Prior to the implementation of the MiCA rule, the exchange’s European development plan includes the purchase of the Dutch broker company as a significant component.
In order to assist its development throughout Europe, Kraken has secured yet another strategic purchase. Coin Meester (BCM) is one of the oldest licensed cryptocurrency broker businesses in the Netherlands, and the cryptocurrency exchange has announced that it has successfully completed the purchase of BCM.
As a result of the purchase, Kraken is now extending its business and presence in the Netherlands by obtaining a license to operate as a registered virtual asset service provider (VASP) in both France and Poland.
According to Brian Grahan, Kraken’s managing director for Europe, the purchase represents a significant step forward in the company’s attempts to expand its presence in Europe with the acquisition. On September 24, Grahan made the following announcement:
“When it comes to Europe, we are one of the very few companies who are able to combine global size with a compliance product and an exceptional experience for our customers. We are able to provide our customers with the premium trading and investment experiences that are necessary to unleash the full potential of cryptocurrency, which will ultimately benefit our customers.”
The purchase takes place only a few days before the full implementation of the Markets in Crypto-Assets (MiCA) law, which is the first complete regulatory framework for the cryptocurrency sector and is scheduled to go into full effect on December 30.
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