Kraken strengthens European business by completing BCM acquisition

Today we announced the completion of the acquisition of Coin Meester BV (BCM), a key element of our European growth strategy.

With the acquisition of BCM, one of the oldest and most respected registered crypto brokers in the Netherlands, we have significantly expanded our presence in the Netherlands and expanded our business with a registered Virtual Asset Service Provider (VASP) in France and Poland.¹

Over the last two years, we have accelerated our expansion in Europe ahead of the implementation of the Markets in Crypto-Assets Regulation (MiCA). We are now able to offer VASP services directly or through a partnership in Germany,* Spain, Italy, the Netherlands, Belgium,² Ireland, France and Poland.

The European market is highly fragmented and rising costs combined with growing competition are expected to lead to consolidation in the coming years. We plan to increase our market share by leveraging our global reach and best-in-class product offering.

“The completion of the BCM acquisition is an important milestone in our European expansion, enabling us to leverage our strong presence and market-leading position in terms of euro volumes and liquidity to significantly increase our market share in the coming years,” said Brian Gahan, Managing Director Europe at Kraken.

“We are one of the very few providers in Europe that can combine global reach with a compliant offering and a superior customer experience. Our customers benefit because we provide them with the first-class trading and investment experiences they need to realize the full potential of cryptocurrencies.”

Over the next few months, BCM clients will benefit from our comprehensive product offering, gaining access to over 200 digital assets, market-leading liquidity, the highest security standards and live customer support available 24/7/365 in the local language.

Over the past few years, Kraken has strengthened its core product offering and expanded its product range, in line with its strategy to become the bridge to the most exciting areas of cryptocurrency. Kraken clients benefit from the Kraken Pro trading interface for advanced traders and a new web user experience for consumers.

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¹ BCM is registered as a Virtual Asset Service Provider in the Netherlands, France and Poland.

² Kraken offers services in Belgium from its Irish-registered Virtual Asset Service Provider.

These materials are for general information purposes only and do not constitute investment advice or a recommendation or solicitation to buy, sell, use or hold any crypto assets or to implement any particular trading strategy. Kraken makes no representations or warranties of any kind, express or implied, as to the accuracy, completeness, timeliness, suitability or validity of such information and shall not be liable for any errors, omissions or delays in such information or for any loss, injury or damage arising from its display or use. Kraken does not seek and will not work to increase or decrease the price of any particular crypto asset it provides. Some crypto products and markets are unregulated and you may not be protected by government compensation and/or regulatory protection schemes. The unpredictable nature of crypto asset markets may result in loss of money. Taxes may apply to any return and/or increase in the value of your crypto assets and you should seek independent advice regarding your tax situation. Geographical restrictions may apply.