Kraken, a prominent cryptocurrency exchange, has recently secured a license to operate in the Netherlands, marking a significant step in its expansion across Europe.
This milestone follows Kraken’s acquisition of Dutch crypto broker BCM last October. With the attainment of a virtual asset service provider (VASP) registration from the Dutch Central Bank, Kraken is poised to strengthen its presence in the Dutch market and beyond.
Brian Gahan, Kraken’s Managing Director of Europe, emphasized the importance of this achievement, stating, “With the addition of the Dutch VASP registration, our European growth strategy continues to accelerate. We see a lot of opportunity to introduce our offering to retail clients and professional traders in the Netherlands and across Europe.”
The Netherlands presents a promising market for Kraken, with approximately 20% of its population owning cryptocurrency. This move aligns with Kraken’s objective to capitalize on Europe’s high fintech adoption rates.
Despite facing legal challenges, including a lawsuit from the U.S. Securities and Exchange Commission alleging improper registration, Kraken remains steadfast in its operations and growth strategy.
Disclaimer: The information provided in this article is for informational purposes only and should not be construed as financial or investment advice. Cryptocurrency investments are subject to market risks, and individuals should seek professional advice before making any investment decisions.