San Francisco-based crypto exchange, Kraken has recently vocalized its plans to acquire (BCM) Coin Meester B.V., with the primary motive of expanding its business footprint in Europe. This intent further cements their commitment to amplifying their business on the continent. The potential value in the Dutch market, given its advanced economy and high crypto adoption, coupled with their culture of innovation, makes this strategic move more appealing for the company.
Founded in the year 2017, BCM has proved to be a significant player within the Dutch crypto industry. The registered crypto broker offers services revolving purchasing, selling, and staking cryptocurrencies, thereby establishing themselves as reliable platforms for Dutch users.
Kraken seizing BCM would, undoubtedly, present them with a sizable position within the Dutch market and would pave the path for existing BCM’s clients to enjoy a more elaborate and robust product offering. Simultaneously, such an assimilation will grant access to Kraken’s superior product range, unmatched liquidity, exceptional security standards, and 24×7 client support for BCM’s clientele.
The brainchild behind BCM and its current CEO, Mitchell Zandwijken, expressed his optimism stating that the Kraken’s leading post in the crypto sphere, makes it an ideal candidate for driving their business forward. The consolidation through acquisition will certainly benefit BCM’s clients through their access to all that crypto has to offer through Kraken’s continuous investment and innovation.
Kraken’s pursuit of BCM aligns seamlessly with the European Commission’s introduction of the Markets in Crypto-Assets (MiCA) regulatory framework. Regulatory clarity is an essential attribute, beneficial to industry participants like Kraken and consumers alike, as it ensures accessibility to competitive and secure crypto products and services.
Kraken’s conquest in Europe are tactful and heavily regulated. Their business expansion is carried out in entirety with the European regulatory measures, and that includes their licensing in Italy, Ireland, and Spain. The company has consistently adhered to regulatory conditions, emphasized by their pursuit of registration in other key European markets.
In recent times, Kraken has managed to foster noteworthy alliances with significant European regulators, which is suggestive of a broader trend. Various other firms have announced plans for expansion in Europe, owing to its presence of favorable policies, markets, and regulators. The emerging landmark crypto legislation, the Markets in Crypto-Assets (MiCA), is closely related to crypto firms’ triumphs in Europe by providing a comprehensive regulatory framework for the crypto industry. Despite the calculated skepticism, it cannot be denied that strategic alliances and acquisitions such as these are essential in driving innovation and adaptation for the future of the crypto market.
Source: Cryptonews
