BTC-Newswire

This Major Crypto Exchange Just Received Approval to Operate in Netherlands

Press Releases Crypto News BeInCrypto This Major Crypto Exchange Just Received Approval to Operate in Netherlands

Kraken, a cryptocurrency exchange, has announced that it obtained a Virtual Asset Service Provider (VASP) registration from the Dutch Central Bank (DCB) in the Netherlands.

This move strengthens the crypto market in Europe, which has seen significant growth as regulatory clarity in the region improves.

Kraken Secures Registration in Netherlands

In a recent statement, Kraken outlines that the registration only further grows their presence in Europe.

“With the addition of the Dutch VASP registration, our European growth strategy continues to accelerate.”

Kraken explained that the Netherlands boasts a dynamic startup and technology sector, a robust financial services industry, and the highest fintech adoption rate among developed economies.

Additionally, it ranks among the top in Europe for crypto adoption, with approximately 20% of Dutch citizens owning cryptocurrency.

It isn’t the first time that Kraken has conducted business in the Netherlands.

In October 2023, BeInCrypto reported that Kraken has revealed its plan to acquire a Netherlands-based crypto exchange, aiming to strengthen its foothold in the European market.

Specifically, Coin Meester B.V. (BCM), which is one of the Netherlands’ longest-running exchanges and has been run for almost six years.

Kraken CEO David Ripley pointed to the Netherlands’ growing economy and its talent for innovation as the primary reasons for their interest in the acquisition:

“The Netherlands has one of the world’s most advanced economies, with a well-established culture of innovation and a high level of crypto adoption. This makes it a key market for us in our European expansion plans.”

Statista forecasts that crypto revenue in Europe will reach $18.5 billion by 2028.

Go to Source to See Full Article
Author: Ciaran Lyons

Did you like this?
Tip BTC Newswire with Cryptocurrency