Solomon Samuel 
Kraken
Exchange located in the United States Kraken has announced that it will acquire Coin Meester B.V. (BCM), a cryptocurrency exchange situated in the Netherlands, as part of its plans to expand into Europe.
Following the implementation of the European Union’s Markets in Crypto-Assets (MiCA) regulatory framework, Kraken and BCM announced the impending acquisition.
However, the terms of the transaction have not been disclosed. Kraken has acquired virtual asset service provider (VASP) licenses to operate in Ireland, Italy, and Spain, highlighting its intentions to expand its business throughout Europe.
In a statement, Kraken CEO David Ripley cited the robustness of the Dutch economy, the widespread adoption of cryptocurrencies, and the country’s culture of innovation as key factors in the company’s decision to establish a base of operations there.
“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.”
Mitchell Zandwijk, co-founder and chief executive officer of BCM, stated that the investment and innovations resulting from the acquisition would benefit the company’s current clientele.
“Kraken is the pioneer in this field with a track record spanning well over a decade, making it the perfect steward of our business going forward.”
BCM, formerly known as Bitcoin Meester and recently rebranded, was founded in 2017 and offers cryptocurrency trading and staking services, as well as access to over 170 cryptocurrencies.
The corporation is registered with De Nederlandsche Bank, the country’s central bank, as a Dutch cryptocurrency service provider.
Both parties note that the transaction is contingent upon regulatory sanction, which will include clearance from the Dutch central bank.
