Amsterdam, February 8, 2024 – In a significant move for its European market presence, cryptocurrency exchange Kraken has officially been granted a license to operate within the Netherlands. This development is a crucial part of Kraken’s strategy to enhance its services across Europe.

Strategic Acquisition and Licensing

Following the acquisition of Dutch crypto broker BCM in the previous year, Kraken has now secured a virtual asset service provider (VASP) registration from the Dutch Central Bank. This marks a pivotal moment for the exchange as it sets its sights on expansion in the Dutch market.

Enhancing the Crypto Experience in the Netherlands

Kraken’s recent registration with the Dutch Central Bank has been proudly announced, signaling a welcome to new Dutch clients eager for a seamless, enhanced, and secure cryptocurrency experience. The exchange is committed to introducing its services to both retail clients and professional traders in the region.

A Market Ripe for Growth

The Netherlands presents a lucrative opportunity for Kraken, with approximately 20% of Dutch citizens reportedly owning cryptocurrency. This aligns perfectly with Kraken’s ambition to capitalize on Europe’s high rates of fintech adoption and to continue its growth trajectory within the continent.

Overcoming Legal Hurdles

Despite facing a lawsuit from the U.S. Securities and Exchange Commission (SEC) over allegations of operating without proper registration, Kraken maintains that its business operations remain unaffected. The firm stands its ground as it continues to navigate through the legal complexities.