Wallets&Exchanges

Kraken secures VASP registration from Dutch Central Bank

This registration will allow us to expand into an important European market and offer our industry leading products to Dutch clients. We are committed to growing our business in compliance with European regulations and have obtained a number of registrations over the past year. In addition to the Netherlands, we hold registrations in Spain, Italy and Ireland and are actively pursuing registrations in other European markets.

“With the addition of the Dutch VASP registration, our European growth strategy continues to accelerate,” said Brian Gahan, Managing Director Europe for Kraken. “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.” 

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, as evidenced by our proposed acquisition of Dutch crypto broker BCM, which was announced in October 2023. 

Ahead of the planned implementation of the EU’s Markets in Crypto-Assets (MiCA) regulatory framework, we have accelerated our investment in the region’s long-term crypto industry growth. The European landscape is highly fragmented; rising costs and growing competition are expected to drive consolidation.

By leveraging our financial and operational resources,  we plan to grow our market share in the years ahead. Through our extensive product offering, clients gain access to more than 200 digital assets, market-leading liquidity, superior security standards and 24/7/365 live client support.

Payward Continental Services Limited has a registration with De Nederlandsche Bank N.V. (DNB) as a provider of crypto services. DNB monitors Payward Continental Services Limited’s compliance with the Money Laundering and Terrorist Financing (Prevention) Act and the Sanctions Act 1977. Payward Continental Services Limited is not under prudential supervision by DNB or under conduct supervision by the AFM. This means no supervision of financial requirements or business risks and no specific financial consumer protection.

These materials are for general information purposes only and are not investment advice or a recommendation or solicitation to buy, sell, stake or hold any cryptoasset or to engage in any specific trading strategy. Kraken does not and will not work to increase or decrease the price of any particular cryptoasset it makes available. Some crypto products and markets are unregulated, and you may not be protected by government compensation and/or regulatory protection schemes. The unpredictable nature of the cryptoasset markets can lead to loss of funds. Tax may be payable on any return and/or on any increase in the value of your cryptoassets and you should seek independent advice on your taxation position. Geographic restrictions may apply.

The post Kraken secures VASP registration from Dutch Central Bank appeared first on Kraken Blog.

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