News

Kraken Acquires BCM To Expand In Europe With New MiCA Law

Key Points:

  • Kraken acquires BCM to expand its European presence.
  • The move is in line with the MiCA regulatory framework, promoting compliant growth.
  • Kraken diversifies with a new NFT marketplace and improved trading interface.
Crypto exchange Kraken is set to expand its presence in Europe through the acquisition of Dutch cryptocurrency broker Coin Meester BV (BCM).
Kraken Acquires BCM To Expand In Europe With New MiCA Law 2

Kraken Acquires BCM to Expand European Reach

Founded in 2017, BCM is a registered cryptocurrency broker in the Netherlands. Kraken acquires BCM underscores the exchange’s dedication to growing its European business and capitalizing on its robust financial position and competitive product offerings.

BCM offers a wide range of services, including buying, selling, and pledging over 170 cryptocurrencies, as well as utilizing local financing channels. The acquisition is pending customary closing conditions and regulatory approvals.

Kraken acquires BCM to solidify its foothold in the Netherlands and extend its suite of services to BCM’s clients. This includes access to its extensive product offerings, exceptional liquidity, high-security standards, and round-the-clock client support.

MiCA Framework Fuels Kraken’s European Expansion Strategy

The decision to ramp up its European expansion aligns with the European Commission’s establishment of the Markets in Crypto-Assets (MiCA) regulatory framework. This framework encourages industry players to invest confidently in the region and offer consumers more competitive products and services.

The exchange is committed to growing its business in compliance with European regulations and is actively pursuing registrations in various European markets, in addition to its existing VASP registrations in Ireland, Italy, and Spain.

In recent years, Kraken has bolstered its core exchange offerings and diversified its product portfolio to empower individuals to explore the potential of decentralized blockchain technology. This strategy includes the recent launch of a Kraken NFT marketplace and an enhanced consumer web experience.

DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

Harold

With a passion for untangling the complexities of the financial world, I've spent over four years in financial journalism, covering everything from traditional equities to the cutting edge of venture capital. "The financial markets are a fascinating puzzle," I often say, "and I love helping people make sense of them." That's what drives me to bring clear and insightful financial journalism to the readers of Coincu.

Recent Posts

Best Altcoins to Buy Today: Qubetics Rides 1000x Potential to Hit $2.6M, Ethereum Stays Rangebound, Tron USDT Transactions Hit $52B

Discover the best cryptos to buy and hold today: Qubetics leads with 1000x potential, Ethereum…

6 minutes ago

Trump Media Company Is Pushing New Venture For Crypto Service

With the platform facing a cracked whip, Trump Media company is expanding into new business…

56 minutes ago

Crypto Advisory Council Now A White House Position Attracting Leaders

Major crypto firms, including Ripple, Kraken, and Circle, are competing for spots on President-elect Donald…

1 hour ago

Analyst Sounds Major Breakout Alert Amid Shiba Inu, WallitIQ, And Dogecoin Price Recoveries

Analysts highlight a breakout alert as Shiba Inu (SHIB), and Dogecoin show signs of recovery…

2 hours ago

SEC Chair Gary Gensler Will Lose Power From January 20

SEC Chair Gary Gensler will step down on January 20, 2025, coinciding with President-elect Donald…

2 hours ago

MicroStrategy Convertible Notes Now Out of Stock With $3B Raised

The MicroStrategy convertible notes offering, initially set at $1.75 billion, was increased to $2.6 billion…

2 hours ago

This website uses cookies.