Kraken announced that it has finalized the acquisition of Coin Meester B.V., or BCM, a well-respected registered crypto broker in the Netherlands, to strengthen Kraken’s presence in Europe, especially with the upcoming implementation of the Markets in Crypto-Assets Regulation.
Expansion in the best possible way
Kraken’s Managing Director for Europe, Brian Gahan highlighted that completing the BCM acquisition is a huge step in their expansion plans, because this acquisition allows Kraken to boost its strong position in euro trading volume and liquidity.
Based on their strategic plans, this move will help them increase their market share in the coming years.
The initial plan to acquire BCM was announced last October, but the specific financial details of the deal haven’t been disclosed.
The acquisition now complete, so Kraken can provide Virtual Asset Service Provider services directly or through partnerships across several European countries, including Germany, Spain, Italy, the Netherlands, Belgium, Ireland, France, and Poland.
Future of the European crypto market
Kraken believes that the European crypto market will undergo consolidation in the next few years due to increasing costs and competition among firms.
The company plans to grow its market share by leveraging its global resources and diverse product offerings.
More services, more offerings, more business
By acquiring BCM, Kraken not only broadens its geographical reach but also growing its range of services.
The firm promised that BCM clients will soon gain access to over 200 digital assets, high-quality liquidity, and robust security measures, and they will also benefit from 24/7 customer support in their local language.
As many experts say, this acquisition could easily position Kraken as a leading player in Europe, as it combines global scale with compliance and excellent customer service.
If successful, the firm’s acquisition strategy may lead to increased user trust and adoption of crypto services across Europe.
