Crypto Kraken Acquires Dutch Exchange BCM, Eyes European Expansion

Kraken Acquires Dutch Cryptocurrency Exchange BCM

Crypto business giant Kraken recently announced a pending deal to acquire the Dutch cryptocurrency exchange Coin Meester B.V. (BCM), as it looks to expand its operations in Europe. No financial details of the deal have been disclosed yet.

The move comes after the EU’s implementation of the Markets in Crypto-Assets (MiCA) regulatory framework. Kraken CEO David Ripley highlighted the Netherlands’ strong economy, high levels of crypto adoption, and culture of innovation as the main reasons for establishing a base there.

Kraken has already acquired Virtual Asset Service Provider (VASP) licenses to operate in Ireland, Italy and Spain, and the acquisition of BCM is another step in its European expansion plan.

Kraken Acquires Crypto Firm BCM

BCM Co-founder and CEO Mitchell Zandwijken expressed that its current customers would benefit from Kraken’s investment and advancements that will stem from the acquisition.

BCM, which recently changed its name from Bitcoin Meester, was established in 2017 and provides cryptocurrency trading and staking services with access to more than 170 cryptocurrencies.

The company is registered as a Dutch cryptocurrency service provider with De Nederlandsche Bank. Both parties have noted that the transaction is subject to regulatory approvals, including clearance from the Dutch Central Bank.

Cointelegraph has contacted Kraken and BCM to get more information about the acquisition.