Kraken has secured a license in the Netherlands, allowing the cryptocurrency exchange to offer its services there, the company announced Thursday.
The company said it had received notification from the Netherlands National Bank (DNB) that it had obtained registration as a virtual asset service provider (VASP). blog post. The announcement follows Kraken’s acquisition of Dutch cryptocurrency broker BCM in October, a move the trading platform said at the time would help it “strengthen its presence in the Netherlands.”
“The Netherlands has a vibrant startup and technology sector, a strong financial services industry, and one of the highest fintech adoption rates among developed countries. Additionally, approximately 20% of Dutch citizens own cryptocurrency, making it one of the highest cryptocurrency adoption rates in Europe,” Kraken said in a post.
Securing a license in the Netherlands can be seen as another incremental development in Kraken’s broader plans to expand across Europe. The company is also licensed in Spain, Italy and Ireland.
Kraken Ongoing With European Expansion
“With the addition of the Dutch VASP registry, our European growth strategy continues to accelerate. We see many opportunities to introduce our products to both retail customers and professional traders in the Netherlands and across Europe,” Brian Gahan, Kraken’s managing director for Europe, said in a statement.
In the US, Kraken be sued It was sanctioned by the Securities and Exchange Commission in November for operating as an unregistered online trading platform. The company later said business not affected By lawsuit.
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About the author
Anna is a senior policy reporter at The Block. She has a background in political journalism and has covered Russian civil society for various media outlets in Moscow, including her award-winning newspaper, Novaya Gazeta. Before joining The Block, Anna spent the past five years researching global cryptocurrency policy and adoption at CoinDesk. Anna says she owns Bitcoin and gift NFTs that have sentimental value.