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Crypto exchange Kraken has unveiled plans to acquire Coin Meester B.V. (BCM), one of the oldest digital assets brokers in the Netherlands. The former leverages its lucrative products and robust financial status to expand into the Dutch market.

Kraken acquires Dutch exchange, expanding European market
Last night (October 5), Kraken announced an agreement to acquire another exchange, Coin Meester BV (BCM), aiming to increase its market share in Europe. The value of the deal has not yet been disclosed. https://t.co/u6sAnUC1z5

The acquisition will allow Kraken to strengthen its footprint in the Netherlands. Also, BCM’s clients will enjoy the broker’s extensive products, top-notch security, and full-time client support.

The latest announcement confirms Kraken’s persistence in growing its European presence. Kraken Chief David Ripley stated that the Netherlands’ advanced economy, innovation-centric, and impressive crypto adoption rate make the Dutch market “a key market for us in our European expansion plans.”

While BCM users will benefit from robust offerings, Kraken will enjoy the broker’s existing clients, cementing its footprints in the Netherlands’ marketplace. According to BCM CEO and Co-founder Mitchel Zandwijken,

“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.”

Europe remains an attractive destination for cryptocurrency firms as the likes of the United States exhibit unclear regulatory frameworks. French regulators began welcoming crypto entities fleeing the US’s unpredictable environment after the European Union endorsed the MiCA rules.

Kraken capitalizes on Europe’s friendly regulations to expand its crypto business. The exchange plans to obtain more licenses in the region – after acquiring Virtual Assets Service Provider certificates in Ireland, Spain, and Italy.

The post Kraken to acquire Dutch’s oldest crypto broker Coin Meester B.V appeared first on Invezz.

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