Kraken Expands in Europe with Dutch License

Kraken has obtained a license in the Netherlands, allowing it to operate in the country as a virtual asset service provider (VASP).

This follows Kraken’s acquisition of Dutch crypto broker BCM last October, aiming to strengthen its presence in the Netherlands. The move aligns with Kraken’s strategy to expand across Europe, with previous licenses obtained in Spain, Italy, and Ireland.

CEO David Ripley believes this acquisition will bolster Kraken’s presence in the Dutch market and enhance BCM’s product offerings for its clientele.

Brian Gahan, Kraken’s Managing Director in Europe, sees great potential for growth in the Netherlands and across Europe. Despite legal challenges in the U.S., Kraken remains optimistic about its business prospects.

Kraken’s expansion into the European market is driven by the presence of a robust regulatory framework, notably the European Union’s Markets in Crypto-Assets (MiCA) regulations.

MiCA, introduced last year, provides a legal structure for the cryptocurrency industry across EU member states.

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