Kraken secures VASP registration

Friday 9 February 2024 08:43 CET | News

US-based digital asset exchange Kraken has successfully secured a VASP registration from the Dutch Central Bank, aimed at its European development strategy. 

Following this announcement, the registration will allow the company to expand into an important European market, as well as to provide customers and clients in the area with its suite of solutions and expertise. In addition, Kraken will remain committed to developing its business in compliance with local regulations and laws, as it obtained a number of registrations over the past year. 

Kraken holds registrations in multiple other regions, such as Spain, Italy, and Ireland, and it also actively pursues registrations in other European markets. 


US-based digital asset exchange Kraken has successfully secured a VASP registration from the Dutch Central Bank, aimed at its European development strategy.

More information on the announcement

The Netherlands represents an important region of Europe, as it has a developed startup and technology sector, a strong financial solutions industry, as well as a high fintech adoption rate among developed economies. At the same time, it also has high crypto adoption rates in the continent, with around 20% of Dutch citizens owning crypto. Thus, Kraken chose the Netherlands as a strategically important market for its European growth strategy. 

According to the press release, the company will take this opportunity in order to introduce its offerings and capabilities to both retail clients and professional traders in the Netherlands, as well as across Europe. Whether for already crypto investors or other individuals who are looking to purchase crypto for the first time, Krake will focus on remaining compliant in a competitive market.

At the same time, officials of the company mentioned that it has accelerated its investment in the region’s long-term crypto industry growth, ahead of the planned incorporation of the EU’s Markets in Crypto-Assets (MiCA) regulatory framework. As the European landscape is highly fragmented, rising costs and growing competition are also expected to drive consolidation. 

By using its financial and operational resources, as well as expertise and suite of solutions, Kraken aims to grow its market share in the following years. Through the use of its extensive product offerings, users will have the possibility to access multiple digital assets, security standards, optimised liquidity, as well as 24/7/365 live client support.

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Keywords: regulation, banking, online banking, mobile banking, digital banking, financial services, financial institutions, crypto, digital assets, crypto asset
Categories: Banking & Fintech
Companies: Dutch Central Bank, Kraken
Countries: Netherlands
This article is part of category

Banking & Fintech

Dutch Central Bank



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