Kraken Secures VASP License in Netherlands, Boosting European Expansion

As part of its plans to expand into Europe, crypto exchange Kraken has been registered as a Virtual Asset Service Provider (VASP) by the Dutch Central Bank (DNB) in the Netherlands.

The United States-based crypto exchange claims that it is able to legally sell its leading products to citizens of the Netherlands thanks to the VASP license from DNB. One of the most significant European marketplaces, according to Kraken, is the Dutch.

Strategic Expansion

Brian Gahan, Kraken’s Managing Director of Europe, made the observation that the VASP license shows the company’s continued acceleration of its expansion plan in Europe. Among its many advantages, this is a great chance for Kraken to reach out to both individual and institutional investors.

Gahan stated:

“We see a lot of opportunity to introduce our offering to both retail clients and professional traders in the Netherlands and across Europe. Whether for existing crypto investors or people looking to buy crypto for the first time, Kraken is a top choice with a very competitive offering that continues to expand.”

Kraken has, for some time now, been keeping an eye on the Dutch market. Because of this, the exchange began to contemplate buying Coin Meester B.V. (BCM), a cryptocurrency exchange located in the Netherlands. During that period, Kraken CEO David Ripley said that by acquiring BCM, Kraken would strengthen its position in the Dutch market and BCM’s current customers would benefit from improved product offerings.

The existence of strong laws and regulations in Europe, which is absent in the US, may be motivating Kraken to enter the European market. Earlier last year, the MiCA regulatory framework was unveiled by the European Union.

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