TechFlow news: Kraken has obtained a license in the Netherlands, allowing the cryptocurrency exchange to provide services in the country, the company announced on Thursday.
In a blog post, the company said it had received notification from the Dutch Central Bank (DNB) that it has been registered as a Virtual Asset Service Provider (VASP). This announcement follows Kraken's acquisition of Dutch cryptocurrency brokerage BCM in October last year, which the company said at the time would help the platform "strengthen" its "presence in the Netherlands."
"The Netherlands boasts a vibrant startup and tech ecosystem, a strong financial services industry, and the highest fintech adoption rate among developed economies. It also has one of the highest cryptocurrency adoption rates in Europe, with approximately 20% of Dutch citizens owning crypto," Kraken said in its post.
Obtaining a license in the Netherlands can be seen as another step forward in Kraken's expansion plans across Europe. The company has also secured licenses in Spain, Italy, and Ireland.
