Aiying reported that Kraken announced that it has obtained a Virtual Asset Service Provider (VASP) license in the Netherlands, allowing cryptocurrency exchanges to provide services in the country. In addition to the Netherlands, Kraken has also registered in Spain, Italy and Ireland, and is actively seeking registration in other European markets.
Kraken has received a license in the Netherlands, allowing the cryptocurrency exchange to offer services in the country, the company announced Thursday.
The company said in a blog post that it had received notification that it had been granted Virtual Asset Service Provider (VASP) registration by the Dutch Central Bank (DNB). This follows Kraken’s acquisition of Dutch cryptocurrency broker BCM in October last year, a move it said at the time would help the trading platform “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 economies. It also has one of the highest cryptocurrency adoption rates in Europe, with approximately 20% of Dutch citizens owning cryptocurrency,” Kraken said in its post.
Obtaining a license in the Netherlands can be seen as another step forward in Kraken’s broader plans to expand across Europe. The company has also obtained licenses in Spain, Italy, and Ireland.