Kraken’s European Crypto Services Journey Begins in the Netherlands

Kraken, a prominent cryptocurrency exchange, has recently secured a license to operate in the Netherlands, signaling its strategic move to expand its presence across Europe. This significant milestone comes as part of Kraken’s broader strategy to capitalize on the growing demand for digital assets in the region.

The acquisition of the Dutch crypto broker BCM last October laid the groundwork for Kraken’s entry into the Dutch market. With the issuance of a virtual asset service provider (VASP) registration from the Dutch Central Bank, Kraken is poised to seize new opportunities and cater to both retail clients and professional traders in the Netherlands and beyond.

Brian Gahan, Kraken’s Managing Director of Europe, expressed enthusiasm about the company’s European expansion, stating, “With the addition of the Dutch VASP registration, our European growth strategy continues to accelerate.” Gahan emphasized the vast potential in introducing Kraken’s offerings to the Dutch market, leveraging the country’s significant cryptocurrency ownership rates.

Tapping into a Promising Market

The Netherlands presents an attractive market for Kraken, with approximately 20% of its population actively engaged in cryptocurrency ownership. Kraken’s strategic move aligns with its overarching objective to tap into Europe’s burgeoning fintech landscape, characterized by high adoption rates and increasing interest in digital assets.

Kraken is continuing to expand its business despite continuous legal obstacles, including as a lawsuit brought by the U.S. Securities and Exchange Commission (SEC) for suspected registration breaches. According to the corporation, the lawsuit has not affected its business operations, and it is still dedicated to providing its users all over the world with cutting-edge solutions.

Kraken’s entry into the Dutch market demonstrates its tenacity and resolve to get over legal roadblocks and seize new possibilities in the ever-evolving cryptocurrency space. With this most recent license success, Kraken paves the way for future expansion and market share gains throughout Europe and beyond.