Digital Assets: Kraken Introduces VASP Services in Belgium

Kraken has launched VASP services in Belgium, utilising its EU subsidiary, which has registered under the VASP regimes in Ireland, Spain and Italy.

This launch reinforces Kraken’s ongoing commitment “to upholding Europe’s robust anti-money laundering and compliance standards. And further underscores Kraken’s dedication to advancing crypto adoption across Europe, now and into the future.”

Brian Gahan, Managing Director, Europe, said:

“We’re pleased to announce another key landmark in our European expansion journey. This launch enables us to continue fulfilling our mission and educate more Belgians about the transformative impact of cryptoasset technology. We believe in offering a compliant trading experience powered by our industry-leading client service, robust security protocols and market-leading position in liquidity and volume for EUR crypto pairs.”

Tracking crypto adoption in Belgium:

Over 40% of people under the age of 35 “already own cryptoassets.”

There are around 70 crypto and blockchain startups “based in Belgium.”

One member of the Belgium Parliament, Christophe De Beukelaer, “agreed to receive his salary in bitcoin (BTC) in 2022.”

With the Belgian launch and growing European footprint, Kraken says that is deepening its commitment “to Belgian clients and improving their ability to access an extensive array of crypto-assets.”

In September 2023, Kraken announced that it was “authorized by the Central Bank of Ireland as an e-money institution (EMI).”

This enables Kraken to “expand its EUR fiat services to clients, in partnership with European banks, across the 27 EU member states and European Economic Area countries.”

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-asset or to engage in any specific trading strategy.”

As clarified in the update, Kraken will not undertake efforts “to increase the value of any crypto-asset that you buy.”

Crypto products and markets “are unregulated, and you may not be protected by government compensation and/or regulatory protection schemes.”

The unpredictable nature of “the crypto-asset markets can lead to loss of funds.”

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