Kraken Expands in Europe with VASP License from Dutch Central Bank
Cryptocurrency exchange Kraken has obtained a Virtual Asset Service Provider (VASP) registration from the Dutch Central Bank (DNB), marking a significant step in its European expansion plans.
Kraken’s Entry into the Dutch Market
The VASP license allows Kraken to offer its top products to residents of the Netherlands, a key market in Europe. Brian Gahan, Managing Director of Europe for Kraken, believes that the license will accelerate the company’s growth strategy in Europe and attract both retail and institutional investors.
Triumphant March into European Market
Kraken’s interest in the Dutch market led to its consideration of acquiring Netherlands-based cryptocurrency exchange Coin Meester B.V. (BCM). The acquisition aimed to strengthen Kraken’s position in the Dutch market and enhance BCM’s product offerings.
Kraken’s expansion into Europe is driven by the region’s robust regulatory framework, such as the Markets in Crypto-Assets (MiCA) regulatory framework introduced by the European Union. Kraken already holds licenses from Ireland, Spain, and Italy, and is actively pursuing licenses and registrations in other European states to comply with regulations.
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