Kraken Expands in Europe with BCM Acquisition, Boosting Dutch and VASP Market Reach

• Kraken acquires BCM, expanding its footprint in the Netherlands and boosting VASP services in France and Poland.
• Kraken accelerates European growth ahead of MiCA regulation, offering VASP services in several key European countries.
• BCM clients gain access to 200+ digital assets, enhanced liquidity, and 24/7 local-language support following Kraken’s acquisition.

Kraken has officially announced the completion of its acquisition of Coin Meester B.V. (BCM), a well-established Dutch cryptocurrency broker. This is a forward step towards Kraken’s strategic expansion in Europe as it seeks to strengthen its market position across the continent. With BCM’s integration, Kraken boosts its presence in the Netherlands while also enhancing its Virtual Asset Service Provider (VASP) offerings in France and Poland.

Expansion Strategy Targets Key European Markets

Kraken’s acquisition of BCM highlights its broader ambition to increase its market share in Europe. Over the past two years, Kraken has accelerated its European expansion ahead of the implementation of the Markets in Crypto-Assets Regulation (MiCA). 

The regulation aims to bring more consistency and regulation across the European cryptocurrency market. Notably, Kraken can now offer VASP services either directly or through partnerships in various countries, including Germany, Spain, Italy, the Netherlands, Belgium, Ireland, France, and Poland.

The European market, though fragmented, is expected to experience consolidation in the coming years due to increasing competition and rising costs. Kraken plans to leverage its global scale and strong euro liquidity to grow its share within this growing market. 

Notably, Brian Gahan, Kraken’s Managing Director for Europe, emphasized that the acquisition will allow Kraken to strengthen its already presence across key European markets.

Product Suite and Client Offerings

In addition to expanding geographically, Kraken continues to enhance its product offerings to meet the growing needs of cryptocurrency traders and investors. BCM clients will soon gain access to over 200 digital assets, enhanced liquidity, and round-the-clock local-language customer support. 

Kraken also offers superior security standards for its users, ensuring a safer trading experience. The exchange’s product suite includes Kraken Pro, which caters to advanced traders, and a new consumer-friendly web interface.

Kraken’s European clients are expected to benefit from a seamless transition as BCM integrates into the Kraken platform. This marks another step in Kraken’s mission to become a bridge to the most innovative areas of the cryptocurrency industry, further solidifying its presence in Europe.

Consolidation Ahead for Fragmented Market

The European crypto market is highly fragmented, with rising competition and regulatory pressure pushing firms toward consolidation. Kraken’s acquisition of BCM is a proactive response to these industry shifts, positioning the exchange to remain competitive. 

By focusing on expanding its services across multiple countries and offering a comprehensive suite of products, Kraken aims to capitalize on these opportunities while delivering a better experience for its clients.