Kraken exchange expands to Europe after strategic alliance in Germany

Kraken, a cryptocurrency exchange, has officially announced a strategic partnership to expand its crypto product offering in Germany. This initiative represents an important step in the exchange's ongoing efforts to strengthen its presence in the European market.

Kraken Exchange cooperates with DLT Finance in Germany

The collaboration is expected to begin on July 10, 2024 and will see the Kraken exchange offering German customers access to cryptocurrencies. The partnership benefits from the expertise and infrastructure of DLT Finance. It is a subsidiary of the entities authorized by the German Federal Financial Supervisory Authority (BaFin), namely DLT Securities GmbH and DLT Custody GmbH.

DLT Finance specializes in premium digital asset brokerage and cryptocurrency custody services. It is also well-equipped to ensure safe and compliant transactions for millions of potential crypto users in Germany.

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Confirm David Ripley, CEO of Kraken, highlighted the importance of collaborating with leading partners to accelerate the global adoption of cryptocurrencies:

“More than 5% of Germans already own crypto assets, and we are confident that our innovative product range – coupled with excellent customer service in the local language – will be attractive to potential customers as cryptocurrencies continue to grow. becoming more and more popular across Europe. »

Likewise, Max Berger, Head of Ecosystem Development at Cryptocity Network, told BeInCrypto that such a strategic partnership represents a major step forward for the European cryptocurrency market. Especially for crypto-friendly countries like Germany:

“Germany, currently the world's third largest economy, has the potential to play a pioneering role in the widespread adoption of cryptocurrencies. Through these progressive partnerships, we can demonstrate to other industrialized countries that the professional crypto industry can also gain traction. gain a foothold in the world. " " The real world. » The cooperation between Kraken and DLT is also attracting increased media attention, which is of great value.

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Highlighting the strategic nature of this partnership, Kraken also announced plans to acquire Dutch crypto broker Coin Meester BV. This reflects its commitment to growing its operations with... Compliance with European regulations.

Kraken's European expansion is marked by the acquisition of an Electronic Money Corporation license from the Central Bank of Ireland and successful registrations as a virtual asset service provider in several European countries. This year, Kraken also obtained registration as a crypto service provider in the Netherlands.