Cryptocurrency exchange Kraken has recently obtained a Dutch license to operate its crypto services in the Netherlands and across Europe.
Obtaining the provider license is a step in Kraken’s plan to broaden its European footprint.
Another milestone in our European growth strategy – Kraken received a registration from the Dutch Central Bank 🤝
We look forward to welcoming all the new Dutch clients that are looking for an easier, better & more secure crypto experience.
Read more ⤵️ https://t.co/9rG46vUyit
— Kraken Exchange (@krakenfx) February 8, 2024
Kraken acquired Dutch crypto broker BCM last October, and now, with a virtual asset service provider (VASP) registration from the Dutch Central Bank, it’s set to grow in the Dutch market.
“With the addition of the Dutch VASP registration, our European growth strategy continues to accelerate,” said Brian Gahan, Kraken’s Managing Director of Europe.
“We see a lot of opportunity to introduce our offering to retail clients and professional traders in the Netherlands and across Europe.”
The Netherlands offers a promising market for Kraken, with about 20% of its citizens owning cryptocurrency. Kraken’s move aligns with its goal to tap into Europe’s high fintech adoption rates.
Despite facing a lawsuit from the U.S. Securities and Exchange Commission for allegedly operating without proper registration, Kraken has maintained that the lawsuit has not impacted its business operations.