- Formerly known as Bitcoin Meester, BCM has been in operation since 2017.
- The firm is recognized by the Dutch central bank, De Nederlandsche Bank.
Kraken has announced plans to expand into Europe by acquiring Coin Meester B.V. (BCM), a crypto exchange situated in the Netherlands. Kraken and BCM have announced an upcoming acquisition, while financial terms of the agreement have not been made public.
The exchange has secured VASP licenses in Ireland, Italy, and Spain, and has announced its intention to expand its company throughout Europe.
Eyeing Dutch Market
In a statement, Kraken CEO David Ripley cited the country’s robust economy, widespread usage of cryptocurrencies, and innovative culture as motivating factors in its pursuit of a Netherlands base of operations.
The CEO stated:
“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 Zandwijken, co-founder and CEO of BCM, said the company’s current customers will benefit from Kraken’s investment and innovations. Formerly known as Bitcoin Meester, BCM has been in operation since 2017 and is a crypto exchange and staking platform that now supports over 170 different tokens.
The firm is recognized by the Dutch central bank, De Nederlandsche Bank, as a legitimate crypto service provider. The agreement is contingent on regulatory approval, which both firms say would need permission from the Dutch central bank.
