Kraken has received a certification in the Netherlands for running their business. They will now be gaining the opportunity to introduce their services to inclined gamers in the country.
This is a virtual asset service provider (VASP) certification issued by the Dutch Central Bank (DNB). The company took over the Dutch crypto broker BCM a while back. This was done to make its position stronger in the Netherlands markets.
The Netherlands is known to have an extremely robust startup and technology space, along with secure financial solutions set up. Added to that is the highest fintech acceptance amongst developed countries. It comes with the highest crypto acceptance rates prevalent in Europe, and roughly 20% of Dutch people are owners of crypto.
The obtaining of the required certification is indeed a landmark moment for the company in furthering its ambitions of spreading more into Europe. Previously, Kraken received certification from countries such as Spain, Italy, and Ireland.
According to the Managing Director of Europe at Kraken, Brian Gahan, getting the validity of carrying out their businesses in the Netherlands. This will provide them with the wings to venture more within the European markets. They will reach out to retail customers and professional traders and provide them with multiple options.
Before the decision to execute the European markets in the Crypto Assets (MiCA) regulatory structure, they quickened their contribution towards the futuristic growth of the crypto space.
By utilizing its financial and operational options, the company decided to increase its market share in the coming times. Customers will gain from getting connected with over 200 digital assets, high standard liquidity, better safety factors, and around-the-clock customer service.
Cases were filed against Kraken by the Securities and Exchange Commission in the US in November for apparently running its business on an uncertified online trading platform. However, that did not affect the company in any way.