A prominent US-based crypto exchange platform is venturing into Europe’s fifth-largest economy after acquiring the proper registration.
In a new press release, crypto trading platform Kraken announced that it has obtained VASP (Virtual Asset Service Provider) registration from the Dutch Central Bank (DCB), allowing it to expand its services into the Netherlands.
VASP licenses give crypto firms clear guidelines on how to operate digital asset services within the European Union (EU).
As stated by Brian Gahan, the managing editor of Kraken’s European branch, in the press release,
“With the addition of the Dutch VASP registration, our European growth strategy continues to accelerate. 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.”
According to Kraken, offering products in the Netherlands is an important part of its European growth strategy as the nation has one of the highest rates of fintech and crypto adoption in the EU.
“The Netherlands has a vibrant startup and technology sector, a strong financial services industry and the highest fintech adoption rate among developed economies.
It also has one of the highest crypto adoption rates in Europe with around 20% of Dutch citizens owning crypto. As a result, we see the Netherlands as a strategically important market for its European growth strategy.”
