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Today, we are doubling down on our European expansion strategy by announcing a new strategic partnership that allows us to actively enhance our product offering in Germany, a key market for European crypto adoption. From approximately July 10, 2024, we plan to offer German customers access to a range of innovative crypto products via a dedicated offering powered by DLT Finance.
DLT Finance is a brand of leading licensed crypto service providers BaFin, DLT Securities GmbH and DLT Custody GmbH, which offer premium digital asset brokerage and cryptocurrency custody services. Once the partnership is operational, DLT Finance will provide localized expertise and infrastructure to serve millions of Germans with secure and compliant crypto services.
“Collaborating with leading partners is a critical part of our mission to accelerate global crypto adoption. More than 5% of Germans already own cryptoassets, and we are confident that our suite of innovative products – along with excellent customer service in the local language – will be attractive to potential customers as crypto continues to grow. increasingly common across Europe,” said David Ripley, CEO of Kraken. .
“Through this partnership, German customers have access to cryptocurrencies with the confidence that they are trading with the best deal as Germany moves towards a new pan-European regulatory framework.”
Marius Sewing, co-founder and CEO of DLT Finance, added: “An integral part of our service is to make available to leading partners a fully regulated financial market infrastructure for the brokerage and custody of digital assets . Building on our commitment to the highest security standards, regulatory compliance and technological excellence, this partnership perfectly embodies DLT Finance's mission to drive the adoption of regulated and compliant digital assets in the Union European.
“We are excited to embark on this joint venture with Kraken and look forward to advancing the digital asset adoption landscape together.”
The acceleration of our European growth plan is also reflected in our recent announcement of intention to acquire Dutch crypto broker Coin Meester BV (BCM). We remain committed to growing our business locally, in line with regulations in other European countries, to meet customer demand for our best-in-class suite of products.
Today's announcement follows several previous European milestones for our company. These include obtaining an Electronic Money Institution (EMI) authorization from the Central Bank of Ireland last year, implementing virtual asset service provider registrations ( VASP) in Ireland, Italy, Spain and Belgium in 2023, as well as successful registration as a crypto service. Provider (CSP) in the Netherlands this year.
These materials are intended for general information purposes only and do not constitute investment advice or a recommendation or solicitation to buy, sell, stake or hold any crypto-asset or to engage in any trading strategy. specific trading. Kraken does not and will not endeavor to increase or decrease the price of any particular crypto-asset it makes available. Some crypto products and markets are unregulated and you may not be protected by government compensation and/or regulatory protection programs. The unpredictable nature of crypto-asset markets can result in losses of funds. Tax may be payable on any returns and/or increases in the value of your cryptoassets and you should seek independent advice on your tax situation. Geographic restrictions may apply.
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