Kraken, one of the world's leading cryptocurrency exchanges, has announced the acquisition of Coin Meester B.V. (BCM), one of the Netherlands’ oldest crypto broker firms. This acquisition is part of the company's strategy to strengthen its position in the European market.
Acquisition of Coin Meester B.V.
The cryptocurrency exchange Kraken has acquired Coin Meester B.V. (BCM), one of the Netherlands’ oldest crypto broker firms. The deal significantly strengthened Kraken’s position in the Dutch market and granted the company registered Virtual Asset Service Provider status in France and Poland.
Significance of MiCA Regulatory Environment
The importance of this acquisition is underscored by the upcoming implementation of the Markets in Crypto-Assets Regulation (MiCA) on December 30, 2024. MiCA is the European Union’s first comprehensive regulatory framework, providing clarity and rules for the European crypto industry. MiCA will require crypto service providers to adhere to strict standards, making it simpler for businesses to operate across multiple EU countries under a single regulatory framework.
Kraken's Goals and Plans
Kraken began acquiring BCM last year, with the aim of strengthening its presence in the European market and offering services in countries such as Germany, Spain, Italy, Belgium, and Ireland. Kraken's Managing Director for Europe Brian Gahan emphasized that the acquisition will help Kraken expand its market share by offering clients access to over 200 digital assets and 24/7 support. The expansion will also enable Kraken to leverage its global reach while remaining compliant with European regulatory requirements.
This acquisition is a step toward consolidation in Europe’s fragmented crypto market, as larger firms prepare to operate under MiCA’s unified rules.
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