Kraken has made another strategic acquisition to support its expansion across Europe.

The crypto exchange has announced the closing of the Coin Meester (BCM) acquisition, one of the Netherlands’ oldest registered crypto broker firms.

Through the acquisition, Kraken is now expanding its Dutch footprint and business with a registered virtual asset service provider (VASP) license in France and Poland.

The acquisition marks a key milestone in Kraken’s European expansion efforts, according to Brian Grahan, Kraken’s managing director for Europe. Grahan wrote in a Sept. 24 announcement :

“We are one of the very few in Europe that can combine global scale with a compliant offering and a superior client experience. Our clients stand to benefit as we empower them with the premium trading and investing experiences needed to unlock crypto’s full potential.”
Kraken acquires Dutch broker BCM as part of European expansion image 0

Kraken acquires BCM. Source: Kraken

The acquisition comes shortly ahead of the full implementation of the Markets in Crypto-Assets (MiCA) bill, the first comprehensive regulatory framework for the crypto industry, set to go into full effect on Dec. 30.

Related: History of Crypto: The future of crypto exchanges, regulatory battles, and governance

This is a developing story, and further information will be added as it becomes available.