Kraken Obtains License in the Netherlands
Crypto exchange Kraken has announced that it has obtained a virtual asset service provider (VASP) registration from the Dutch Central Bank (DNB). This license allows Kraken to offer its services in the Netherlands. The company had previously acquired Dutch crypto broker BCM, with the aim of strengthening its presence in the country. The Netherlands has a high adoption rate for both fintech and cryptocurrency, making it an attractive market for Kraken.
Continued Expansion in Europe
Kraken’s European growth strategy is progressing with the addition of the Dutch VASP registration. The company sees opportunities to introduce its offerings to retail clients and professional traders not only in the Netherlands but also across Europe. Kraken has been actively expanding in Europe and has already obtained licenses in Spain, Italy, and Ireland.
Legal Challenges in the U.S.
In November, Kraken was sued by the Securities and Exchange Commission (SEC) in the U.S. for allegedly operating as an unregistered online trading platform. However, Kraken stated that its business was not affected by the lawsuit.
Hot Take: Kraken Expands Reach with Dutch License
Kraken’s recent acquisition of a license from the Dutch Central Bank marks another step forward in its European expansion plans. With this license, Kraken can now offer its services to customers in the Netherlands, a country known for its vibrant startup and technology sector as well as its high adoption rate of cryptocurrencies. This move aligns with Kraken’s goal of strengthening its presence in Europe, as it continues to obtain licenses in other European countries. Despite legal challenges in the U.S., Kraken remains focused on expanding its global reach and providing a comprehensive trading platform for both retail and professional traders.
By
By
By
By