Kraken set to acquire Dutch exchange BCM, eyes European expansion
Kraken is set to acquire the Netherlands-based cryptocurrency platform as part of its European expansion plans. United States-based exchange Kraken has announced a pending deal to acquire Netherlands-based cryptocurrency exchange Coin Meester B.V. (BCM) as it sets its sights on European expansion . While financial details of the deal have not been disclosed, Kraken and BCM announced the coming acquisition following the European Union’s implementation of its Markets in Crypto-Assets (MiCA) regulatory framework. The announcement from Kraken highlights its plans to grow its business across Europe, having acquire d virtual asset service provider (VASP) licenses to operate in Ireland, Italy and Spain. A statement from Kraken CEO David Ripley highlighted the strength of the Netherlands economy, the high level of cryptocurrency adoption and a culture of innovation as driving reasons for looking to establish a base of operations in the country. “The acquisition of BCM will give Kraken a si