Kraken to acquire Dutch crypto broker BCM in commitment to grow European business

Kraken to acquire Dutch crypto broker BCM in commitment to grow European business

Kraken is thrilled to announce our planned acquisition of Coin Meester B.V. (BCM) in the Netherlands. The deal highlights our commitment to growing our business in Europe by leveraging our strong financial position and highly competitive product offering.

Founded in 2017, BCM is one of the Netherlands oldest and most respected registered crypto brokers. The company provides services to buy, sell and stake crypto, including access to over 170 cryptocurrencies and strong local funding rails.

The proposed acquisition will enable us to strengthen our presence in the Netherlands and allow BCM’s clients to benefit from our extensive product offering, market-leading liquidity, superior security standards and 24/7/365 live client support.

“The Netherlands has one of the world’s most advanced economies, with a well established culture of innovation and a high level of crypto adoption. This makes it a key market for us in our European expansion plans,” said Kraken CEO David Ripley. “The acquisition of BCM will give Kraken a sizable position in the Dutch market and will allow BCM’s clients to benefit from an even more robust product offering.”

BCM Co-founder and CEO Mitchell Zandwijken said, “We founded BCM because we wanted to make crypto accessible to everyone. Kraken is the pioneer in this field with a track record spanning well over a decade, making it the perfect steward of our business going forward. Our clients will benefit from all that crypto has to offer through Kraken’s continuous investment and innovation.”

Our decision to accelerate European growth plans follows the European Commission’s establishment of Markets in Crypto-Assets (MiCA) regulatory framework, which allows industry players to confidently invest in the region and provide consumers access to more competitive products and services.

We are committed to growing our business in compliance with European regulations; in addition to our VASP licenses in Ireland, Italy and Spain, we are actively pursuing registrations in other European markets.

Completion of the proposed acquisition is subject to customary closing conditions, including obtaining the required regulatory approvals. Financial details of the transaction weren’t disclosed. 

Read More

Comments

0 Comments Write a comment

Write a comment

Your email address will not be published. Required fields are marked *