Kraken’s Ascent in Europe: Acquiring BCM to Ignite Growth
In the ever-evolving landscape of cryptocurrency, strategic moves are crucial to staying ahead of the game. Recently, United States-based cryptocurrency exchange Kraken unveiled its intentions to acquire Coin Meester B.V. (BCM), a Netherlands-based crypto broker. This acquisition is more than just a business deal; it’s a testament to Kraken’s commitment to growing its European presence.
Kraken, known for its robust and secure platform, has set its sights on expanding its footprint in Europe. The Netherlands-based BCM, formerly Bitcoin Meester, is a registered crypto broker serving the Dutch market since its establishment in 2017. The proposed acquisition is poised to bring significant advantages to both parties and, most importantly, their clients.
BIG NEWS! 📣
We’re excited to announce our plans to acquire Dutch crypto broker BCM @bcmtodaycom!
This is another important step in our ongoing commitment to growth in Europe and to bringing Kraken’s offering to more people worldwide.
One of the driving forces behind this acquisition is the European Union’s Markets in Crypto-Assets (MiCA) regulatory framework. The MiCA framework sets the stage for a more regulated and consumer-friendly crypto market in Europe, providing a conducive environment for industry players to invest and consumers to access competitive crypto products and services. Kraken, committed to operating within regulatory boundaries, has secured virtual asset service provider (VASP) licenses in Ireland, Italy, and Spain and is actively pursuing registrations in other European markets.
With its advanced economy, culture of innovation, and high crypto adoption rates, the Netherlands represents a promising market for Kraken’s European expansion plans. Kraken’s CEO, David Ripley, recognises the potential of this market, stating, “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’s Co-founder and CEO, Mitchell Zandwijken, echoes this sentiment, expressing confidence in Kraken’s ability to further its mission of making crypto accessible to everyone through continuous investment and innovation. This partnership promises to enhance BCM’s product lineup and offer its clients access to Kraken’s extensive product range, superior security standards, market-leading liquidity, and round-the-clock customer support.
Kraken’s decision to accelerate its growth plans in Europe aligns seamlessly with its overall strategy. Over the years, Kraken has diversified its product suite to empower users to explore the vast potential of decentralised blockchain technology. Recent launches, such as its NFT marketplace, a new Kraken Pro trading interface, and an improved consumer web experience, align with Kraken’s vision of becoming a bridge to exciting areas of the crypto world.
Completing the proposed acquisition is contingent on customary closing conditions, including obtaining regulatory approvals. While the financial specifics of the transaction have not been disclosed, the strategic value of this deal is undoubtedly substantial.
Kraken, founded in 2011, has cemented its position as one of the world’s most secure and trusted crypto platforms. It boasts over 10 million clients worldwide, facilitating trading more than 200 digital assets and six national currencies, including GBP, EUR, USD, CAD, CHF, and AUD. Kraken is renowned for its professional 24/7/365 client support. It has set industry standards for transparency and client trust, conducting Proof of Reserves audits as a testament to its commitment to security and integrity.
In 2023, Kraken received further recognition when it ranked 16th in Newsweek’s Global Top 100 list of Most Loved Workplaces, underscoring its appeal as an employer. This achievement speaks to the platform’s status as one of the world’s most compelling employment opportunities.
The crypto community watches with anticipation as Kraken’s acquisition of BCM progresses through regulatory approvals. The move exemplifies the importance of adaptability and strategic partnerships in navigating the dynamic world of cryptocurrency. It also serves as a testament to Kraken’s unwavering commitment to its mission: accelerating the global adoption of crypto so that everyone can achieve financial freedom and inclusion.
In conclusion, the acquisition of BCM marks a significant chapter in Kraken’s European expansion journey. It reaffirms the platform’s dedication to innovative crypto solutions in a rapidly evolving market and underscores its commitment to serving clients in the Netherlands and beyond.
