This registration allows us to expand into the important European market and offer our industry-leading products to our Dutch customers. We are committed to growing our business while complying with European regulations and have obtained a number of registrations over the past year. In addition to the Netherlands, we have registrations in Spain, Italy and Ireland and are actively pursuing registrations in other European markets.
“The addition of the Dutch VASP registry continues to accelerate our European growth strategy,” said Brian Gahan, Managing Director of Europe at Kraken. “We see many opportunities to introduce our products to both retail customers and professional traders in the Netherlands and across Europe. Whether you are an existing cryptocurrency investor or looking to buy cryptocurrency for the first time, Kraken is the best choice with a highly competitive product that is constantly expanding.”
The Netherlands has a vibrant startup and technology sector, a strong financial services industry, and the highest fintech adoption rate among developed countries. Additionally, approximately 20% of Dutch citizens own cryptocurrency, making the country one of the places with the highest cryptocurrency adoption rates in Europe.
As a result, we see the Netherlands as a strategically important market for our European growth strategy, as evidenced by our proposed acquisition of Dutch cryptocurrency broker BCM announced in October 2023.
Ahead of the planned implementation of the EU’s Markets for Cryptocurrency Assets (MiCA) regulatory framework, we have accelerated our investments in long-term cryptocurrency industry growth in the region. The European landscape is very fragmented. Consolidation is expected to accelerate due to rising costs and increased competition.
We plan to leverage our financial and operational resources to increase our market share in the coming years. Our extensive product offering gives clients access to over 200 digital assets, market-leading liquidity, superior security standards, and 24/7 live customer support.
Payward Continental Services Limited is registered with De Nederlandsche Bank NV (DNB) as a crypto services provider. DNB monitors Payward Continental Services Limited’s compliance with the Money Laundering and Terrorist Financing (Prevention) Act and Sanctions Act 1977. Payward Continental Services Limited is not subject to the prudential supervision of DNB or the conduct supervision of AFM. This means there is no oversight of financial requirements or business risks and no specific financial consumer protection.
These materials are provided for general information purposes only and are not investment advice or a recommendation or solicitation to buy, sell, stake or hold any cryptocurrency or to engage in any particular trading strategy. Kraken does not and will not seek to increase or decrease the price of any particular cryptocurrency it offers. Some cryptocurrency products and markets are unregulated and you may not be protected by government compensation and/or regulatory protection schemes. The unpredictable nature of the cryptocurrency market may result in loss of funds. Taxes may be levied on the appreciation and/or reporting of your cryptocurrency assets and you should seek independent advice regarding your tax position. Geographic restrictions may apply.