Kraken, a United States-based cryptocurrency exchange, has announced a pending deal to acquire Coin Meester B.V. (BCM), a Netherlands-based cryptocurrency exchange. The financial details of the deal have not been disclosed, but the acquisition is likely due to the European Union’s (EU) establishment of its Markets in Crypto-Assets (MiCA) regulatory framework. Kraken plans to expand its business across Europe, having acquired virtual asset service provider (VASP) licenses to operate in Ireland, Italy and Spain. Kraken CEO David Ripley highlighted the strength of the Netherlands economy, the high level of cryptocurrency adoption, and a culture of innovation as driving reasons for looking to establish a base of operations in the country. BCM Co-founder and CEO Mitchell Zandwijken said that its existing client base would benefit from Kraken’s investment and innovations that are set to come from the acquisition. BCM, which recently rebranded from Bitcoin Meester, was established in 2017 and offers cryptocurrency trading and staking services which includes access to over 170 cryptocurrencies. The company is registered as a Dutch cryptocurrency service provider with De Nederlandsche Bank. Both companies note that the deal is subject to regulatory approvals which will include clearance from the Dutch Central Bank. Cointelegraph has reached out to Kraken and BCM to ascertain finer details of the acquisition.

This News Article was automatically generated by Bob the Bot (AI)

Information	Details
Geography	Europe
Countries	🇳🇱 🇮🇪 🇮🇹 🇪🇸 🇺🇸
Sentiment	positive
Relevance Score	9
People	Mitchell Zandwijken, David Ripley, De Nederlandsche Bank
Companies	Coin Meester B.V. (BCM), European Union (EU), Kraken, Markets in Crypto-Assets (MiCA), De Nederlandsche Bank.
Currencies	Ethereum, Bitcoin, Euro, dutch guilder
Securities	None