{"id":194625,"date":"2023-10-05T15:39:49","date_gmt":"2023-10-05T15:39:49","guid":{"rendered":"https:\/\/tokenstalk.info\/?p=194625"},"modified":"2023-10-05T15:39:49","modified_gmt":"2023-10-05T15:39:49","slug":"kraken-set-to-acquire-dutch-exchange-bcm-eyes-european-expansion","status":"publish","type":"post","link":"https:\/\/tokenstalk.info\/crypto\/kraken-set-to-acquire-dutch-exchange-bcm-eyes-european-expansion\/","title":{"rendered":"Kraken set to acquire Dutch exchange BCM, eyes European expansion"},"content":{"rendered":"
United States-based exchange Kraken has announced\u00a0a pending deal to acquire Netherlands-based cryptocurrency exchange Coin Meester B.V. (BCM) as it sets its sights on European expansion.<\/p>\n
While financial details of the deal have not been disclosed, Kraken and BCM announced the coming acquisition following the European Union\u2019s implementation of its Markets in Crypto-Assets (MiCA) regulatory framework.<\/p>\n
The announcement from Kraken highlights its plans to grow its business across Europe, having acquired virtual asset service provider (VASP) licenses to operate in Ireland, Italy and Spain.<\/p>\n
A statement from Kraken CEO David Ripley highlighted the strength of the Netherlands economy, the high level of cryptocurrency adoption and a culture of innovation as driving reasons for looking to establish a base of operations in the country.<\/p>\n
\u201cThe acquisition of BCM will give Kraken a sizable position in the Dutch market and will allow BCM\u2019s clients to benefit from an even more robust product offering.\u201d<\/p><\/blockquote>\n
BCM co-founder and CEO Mitchell Zandwijken said that its existing client base would benefit from Kraken\u2019s investment and innovations set to come from the acquisition. <\/p>\n
\u201cKraken 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.\u201d<\/p><\/blockquote>\n
BCM, which recently rebranded from Bitcoin Meester, was established in 2017 and offers cryptocurrency trading and staking services, including access to over 170 cryptocurrencies. <\/p>\n
The company is registered as a Dutch cryptocurrency service provider with De Nederlandsche Bank, the country\u2019s central bank.\u00a0Both companies note\u00a0that the deal is subject to regulatory approval, which will include clearance from the Dutch central bank.<\/p>\n
Cointelegraph has reached out to Kraken and BCM for comments on the acquisition.<\/p>\n
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