Kraken Receives VASP Registration from Dutch Central Bank
Crypto exchange Kraken has been granted a virtual asset service provider (VASP) registration by the Dutch Central Bank. This marks Kraken’s fourth European VASP license and allows the exchange to offer its services to customers in the Netherlands. With this registration, Kraken can now provide exchange and transfer services for virtual assets, as well as custody and wallet services.
Understanding VASP License
A VASP license is a regulatory framework that oversees enterprises providing services related to digital assets in Europe. Under the Regulation on Markets in Crypto-Assets, entities offering digital asset services in the EU must comply with various requirements, including anti-money laundering measures, counter-terrorism financing efforts, and client information transparency.
Kraken’s European Expansion
Kraken’s VASP registration in the Netherlands is the latest addition to its European registrations. The company already holds VASP licenses in Italy, Ireland, and Spain. It also offers crypto services in Belgium through its subsidiary, Payward Europe Solutions Limited. Kraken’s decision to obtain a Dutch VASP license was driven by the country’s high crypto adoption rates and its vibrant startup and technology sector.
According to Brian Gahan, Managing Director of Europe for Kraken, the Dutch VASP registration accelerates the company’s European growth strategy. Kraken aims to introduce its offerings to retail clients and professional traders in the Netherlands and across Europe. The acquisition of Coin Meester B.V., a Netherlands-based crypto exchange, is also underway pending regulatory approval.
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