Kraken obtained VASP (Virtual Asset Service Provider) registration from the Central Bank of the Netherlands (DNB), paving the way for its expansion into the Dutch market.。

Kraken in Europe by leaps and bounds

Brian Gahan, Managing Director of Kraken Europe, expressed great enthusiasm for the company's strategy to accelerate its growth in Europe and highlighted the opportunities presented by the Dutch market.。

He said: "With the increase in VASP registrations in the Netherlands, our European growth strategy will continue to accelerate and there is an excellent opportunity to introduce our products to retail customers and professional traders in the Netherlands and across Europe.。"

The Netherlands is a strategically important market with its vibrant entrepreneurial ecosystem, strong financial services industry and high adoption of fintech in developed economies.。In addition, the Netherlands has one of the highest adoption rates of cryptocurrencies in Europe, with about 20% of Dutch citizens holding digital assets.。

Kraken announced its intention to acquire Dutch cryptocurrency broker BCM in October 2023, further highlighting Kraken's recognition of the importance of the Netherlands.。The move suggests that Kraken will actively take advantage of the Dutch cryptocurrency-friendly environment to promote its long-term development goals in Europe.。

Strategic Response to EU Cryptocurrency Regulations

At a time when the EU's regulatory framework for crypto assets markets is about to be implemented, Kraken has stepped up its investment in the development of the crypto industry in the region.。The changing European landscape, characterized by fragmentation and increased competition, is expected to drive industry consolidation, putting Kraken in a strategic position in the changing regulatory dynamics.。

Notably, Kraken is already registered in other major European markets such as Spain, Italy and Ireland, and is working to penetrate more regions.。Kraken received a VASP registration from the Dutch central bank, demonstrating its commitment to regulatory compliance and its leading position in the European cryptocurrency market.。