Kraken seeks targets in Europe

The American exchange platform, which has no local registration in Europe, is reportedly looking to get its hands on a regulated player.

Most crypto players know this: periods of "Bear Market" are also when there are buyback opportunities. Especially when you're a heavyweight player like... Kraken 🐙.

According to our information, the US platform, the world's third biggest player on the spot market (behind Binance and Coinbase), is considering potential acquisitions in Europe.

"They've approached us about a buyout," confides a regulated French player. "Kraken is looking at what's happening in France and Europe", confirms a lawyer.

Kraken, which was founded in 2011, has already had a presence in Europe for years. In particular, the company has offices in Berlin, which act as its informal European headquarters.

But it would appear that the company would like to accelerate on the Old Continent and the arrival of the European MiCA regulation has not helped: from the end of 2024, Kraken will absolutely have to comply with MiCA to continue operating in the 27 member countries of the European Union; until now, the platform has not held any local registrations... The acquisition of a regulated European player could speed things up. 🇪🇺

This move could also be linked to the regulatory context in the United States. Kraken announced a few weeks ago that it was shutting down its staking service due to an investigation by the US Securities and Exchange Commission (SEC).

Contacted, the platform did not wish to react.

Everything that matters in Web3. Each week.
This offer is available until the 30.04.2024. Try insider for free, for 30 days.
All that matters in crypto.
Deciphering, insights, Data. Access the best of the ecosystem.
In this article
No items found.
Read next
No items found.
In this category