Kraken Acquires Registration for VASP in the Netherlands

Kraken secures a VASP registration from the Dutch Central Bank, marking a significant step in its European expansion and commitment to regulatory compliance. This strategic move enhances Kraken's offerings in the Netherlands and positions it for further growth in Europe. (Read More)

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DNB Greenlights Kraken with VASP Registration: Opens Doors to Dutch Market

Krakenhas achieved a milestone in its European growth strategy with the acquisitionof a VASP (Virtual Asset Service Provider) registration from the Dutch CentralBank (DNB). This registration paves the way for Kraken to expand its operationsinto the Dutch market.

Kraken'sEuropean Growth Soars with Dutch Market Opportunities

BrianGahan, the Managing Director of Europe for Kraken, expressed enthusiasm aboutthe company's accelerated European growth strategy, emphasizing theopportunities presented by the Dutch market. Gahan stated: "With theaddition of the Dutch VASP registration, our European growth strategy continuesto accelerate. We see a lot of opportunity to introduce our offering to bothretail clients and professional traders in the Netherlands and across Europe."

TheNetherlands stands out as a strategically vital market due to its vibrantstartup ecosystem, robust financial services industry, and high fintechadoption rate among developed economies. Moreover, the country boasts one ofthe highest rates of cryptocurrency adoption in Europe, with approximately 20%of Dutch citizens holding digital assets.

Kraken'srecognition of the Netherlands' significance is further underscored by itsproposed acquisition of Dutch crypto broker BCM, announced in October 2023.This move signals Kraken's proactive approach to leveraging the country'scrypto-friendly environment and facilitating its long-term growth objectives inEurope.

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

StrategicResponse to EU Crypto Regulations

Inanticipation of the impending implementation of the EU's Markets in Crypto-Assets regulatoryframework, Kraken has intensified its investment in the region's cryptoindustry growth. The evolving European landscape, characterized byfragmentation and heightened competition, is expected to drive consolidation,positioning Kraken strategically amidst changing regulatory dynamics.

Notably,Kraken has securedregistrations in other key European markets such as Spain, Italy, and Ireland,with ongoing efforts to penetrate additional territories. Kraken'sattainment of the VASP registration from the DutchCentral Bank underscores its commitment to regulatory compliance and itsposition as a leading player in the European crypto market.

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