Kraken is a San Francisco-based cryptocurrency exchange where market participants can trade different cryptocurrencies. Participants are allowed to buy or sell cryptocurrencies using various fiat currencies, which include US dollars, Canadian dollars, euros and Japanese yen. As of January 15, 2023, Kraken is the world’s third largest cryptocurrency exchange, with a daily trading volume of $333 million according to CoinMarketCap.Kraken allows trading with more than 200 cryptocurrencies and more than 600 cryptocurrency pairs.
Crypto exchange Kraken announced on Thursday its “planned acquisition of Coin Meester B.V. (BCM) in the Netherlands.” Kraken explained that BCM, founded in 2017, is one of the of “the oldest and most reputable registered crypto broker” in the Netherlands. The company provides services buying, selling and investing in cryptocurrencies, including access to more than 170 cryptocurrencies. The proposed acquisition will enable Kraken to strengthen its presence in the Netherlands and will enable BCM clients to benefit from Kraken’s product offering, liquidity, security standards and customer support twenty-four hours a day, every day.
Kraken CEO David Ripley commented: “The acquisition of BCM will give Kraken significant position in the Dutch market and enable BCM’s clients to take advantage of more stronger product offering.”
In addition, Kraken pointed out: “We are committed to the growth of our business in line with the European one.” regulations; with our VASP (virtual asset service provider) licenses in Ireland, Italy and Spain, we are actively conducting registrations in other European markets.