Kraken expands European footprint with German strategic partnership

Today, we are doubling down on our European expansion strategy by announcing a new strategic partnership that will allow us to proactively strengthen our product offering in Germany, a key market for European cryptocurrency adoption. From around July 10, 2024, we will offer German customers access to a range of innovative crypto products through a dedicated service powered by DLT Finance.

DLT Finance is a brand of DLT Securities GmbH and DLT Custody GmbH, leading BaFin-licensed cryptocurrency service providers offering digital asset prime brokerage and cryptocurrency custody services. Once this partnership materializes, DLT Finance will provide localized expertise and infrastructure to deliver secure and compliant crypto services to millions of Germans.

“Cooperation with industry-leading partners is a key element of our mission to accelerate the global adoption of cryptocurrencies. More than 5% of Germans already own cryptoassets, and across Europe As cryptocurrencies continue to become more mainstream in the US, we are confident that our innovative product suite and excellent local language client service support will be attractive to future customers.” said David Ripley, Kraken CEO. said. .

“This partnership will ensure that German customers can access cryptocurrencies with the confidence that they are trading with best-in-class products as the country transitions to a new pan-European regulatory framework.”

Marius Sewing, co-founder and CEO of DLT Finance, added: “An integral part of our service is to provide a fully regulated financial market infrastructure for the intermediation and custody of digital assets available to our industry-leading partners, backed by the highest security standards, regulatory compliance and technology. Building on our commitment to excellence, this partnership perfectly embodies DLT Finance’s mission to accelerate the adoption of regulated and compliant digital assets in the European Union.”

“We are excited to begin our joint effort with Kraken and look forward to advancing the digital asset adoption landscape together.”

The acceleration of our European growth plans is also reflected in our recent announcement of intent to acquire Dutch crypto broker Coin Meester BV (BCM). We remain committed to expanding our business locally in compliance with regulations in other European countries to meet customer demand for our best-in-class product suite.

Today’s announcement follows several previous European milestones for our business. This includes gaining electronic money institution (EMI) authorization from the Central Bank of Ireland last year, the commencement of operation of the Virtual Asset Service Provider Registration (VASP) in Ireland, Italy, Spain and Belgium in 2023, and the This includes successfully registering as a. This year it’s Dutch provider (CSP).

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 crypto assets or to participate in any particular trading strategy. Kraken does not and will not increase or decrease the price of any particular crypto asset that it makes available. Some crypto products and markets are unregulated and may not be protected by government indemnification or regulatory protection regimes. The unpredictable nature of the crypto asset market may lead to loss of funds. You should seek independent advice on your tax position as tax may be payable on the return and/or increase in value of your crypto assets. Geographical restrictions may apply.

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