Kraken enters Germany with DLT Finance partnership

Crypto
exchange
Kraken
is
expanding
its
footprint
across
European
markets
with
a
partnership
to
service
German
clients.

According
to
a
press
release,
Kraken
reached
an

agreement
with
BaFin-licensed
DLT
Finance,
a
brand
of
crypto
service
providers
DLT
Securities
GmbH
and
DLT
Custody
Gmbh,
to
activate
digital
asset
facilitates
for
users
in
Germany.

This
year,
Germany
and
Europe
have
been
showcased
as
hot
spots
for
crypto
adoption.
As
crypto.news
reported,
several
German
cities

showed
leading
interest
in
the
Bitcoin
(BTC)
halving,
and
the
crypto
banking
sector
is

dominated
by
European
providers.

Commenting
on
the
move,

Kraken
CEO
David
Ripley
said
more
than
5%
of
Germans
own
crypto
assets,
reaffirming
demand
for
virtual
currencies
in
the
country.

“With
this
partnership,
German
clients
get
access
to
crypto
with
certainty
that
they
are
trading
with
a
best-in-class
offering
as
Germany
transitions
toward
a
new
pan-European
regulatory
framework.”

David
Ripley,
Kraken
CEO

DLT
Finance
Co-Founder
and
CEO
Marius
Sewing
added
that
collaborating
with
the
crypto
exchange
will
help
drive
regulated
digital
asset
adoption
in
the
European
Union,
especially
as
the
bloc
implements
its
milestone
Markets
in
Crypto
Assets
Regulation
(MiCA).

After
three
years
of
development,

MiCA
represents
one
of
the
first
comprehensive
crypto
frameworks.
The
policy
laid
down
rules
for
digital
asset
service
providers
offering
cryptocurrency
access,
including
stablecoin
issuance
and
reserves
requirements. MiCA
was
voted
into
law
last
year,
but
the
rules
are
expected
to
be
fully
implemented
in
December.

Kraken’s
team-up
with
DLT
Finance
follows
the
company’s
bid
to

acquire
Dutch
crypto
broker
Coin
Meester
B.V.,
in
keeping
with
a
European
proliferation
plan.

The
crypto
exchange
also

received
E-Money
Institution
approval
from
Ireland’s
central
bank,
in
addition
to

registration
in
the
Netherlands
as
a
Crypto
Service
Provider.
Both
achievements
allow
Kraken
to
operate
in
Ireland,
Italy,
Spain,
and
Belgium.