Kraken completes Dutch BCM acquisition, expands European presence

Kraken has acquired Coin Meester BV (BCM), one of the most established crypto brokerages in the Netherlands, as part of its European growth strategy.

According to a statement from Kraken, this move significantly strengthens Kraken’s position in the Dutch market and grants it the status of a registered Virtual Asset Service Provider in France and Poland.

The timing of this acquisition is important as it coincides with the entry into force of the Crypto Asset Markets Regulation on December 30, 2024.

MiCA is the European Union’s first comprehensive regulatory framework, providing clarity and rules for the European crypto industry. It will require crypto service providers to adhere to strict standards and make it easier for businesses to operate across multiple EU countries under a single regulatory framework.

Kraken is one of the world’s leading cryptocurrency exchanges where users can buy and sell digital assets such as Bitcoin (BTC), Ethereum (ETH), and others.

Kraken’s goals

Kraken began acquiring BCM last year with the aim of establishing a stronger presence in the European market, allowing it to offer services in countries such as Germany, Spain, Italy, Belgium and Ireland.

Brian Gahan, General Manager of Kraken Europe, emphasized that the acquisition will help Kraken expand its market share by offering its customers access to over 200 digital assets and 24/7 support. The expansion will also allow Kraken to increase its global reach while remaining compliant with European regulations.

“We are one of the very few companies in Europe that can combine global scale with a cohesive offering and a superior customer experience. Our clients will benefit when we empower them with the world-class trading and investing experiences they need to unlock the full potential of crypto.”

Brian Gahan, General Manager, Kraken Europe

The acquisition is a step towards consolidation in Europe’s fragmented crypto market, as larger firms prepare to operate under MiCA’s unified rules.