Kraken Announces Acquisition of Coin Meester B.V. in Move Towards European Expansion
Kraken, a San Francisco-based cryptocurrency exchange, has announced its intention to acquire Coin Meester B.V. (BCM) in the Netherlands.
On October 5, in a blog post, Kraken emphasized that the planned acquisition "highlights our commitment to growing our business in Europe" and underlined its intention to leverage its strong financial position and highly competitive product offering.
Kraken CEO David Ripley said:
"The Netherlands has one of the world's most advanced economies, with a well-established culture of innovation and a high level of crypto adoption. This makes it a key market for us in our European expansion plans."
BCM, a well-established registered crypto broker founded in 2017, which recently rebranded from Bitcoin Meester, has built a strong reputation in the Netherlands by offering services for buying, selling, and staking cryptocurrencies.
As a Dutch cryptocurrency service provider registered with De Nederlandsche Bank (DNB), Coin Meester B.V. (BCM) has established itself as a reliable platform for Dutch users. Offering access to a wide array of over 170 cryptocurrencies and boasting a robust local funding infrastructure, BCM has earned the trust of users in the Netherlands.
"The acquisition of BCM will give Kraken a sizable position in the Dutch market and will allow BCM's clients to benefit from an even more robust product offering."
While the financial specifics of the deal remain undisclosed, the planned acquisition is expected to bolster Kraken's footprint in the Netherlands. Additionally, clients of BCM, one of the Netherlands' oldest and most respected registered crypto brokers, will gain access to Kraken's comprehensive product range, industry-leading liquidity, elevated security standards, and
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