Crypto exchange Kraken is expanding its presence in European markets with a new partnership aimed at serving clients in Germany. The company has teamed up with BaFin-licensed DLT Finance to offer digital asset services to users in Germany. This move comes at a time when both Germany and Europe are seeing increased interest in cryptocurrencies.

According to Kraken CEO David Ripley, more than 5% of Germans currently own crypto assets, indicating a growing demand for virtual currencies in the country. With this partnership, German clients will have access to a top-notch crypto offering as Germany transitions to a new pan-European regulatory framework.

DLT Finance Co-Founder and CEO Marius Sewing believes that collaborating with Kraken will help drive regulated digital asset adoption in the European Union, especially as the bloc implements its milestone Markets in Crypto Assets Regulation (MiCA). MiCA, which was voted into law last year, lays down rules for digital asset service providers offering cryptocurrency access.

Following three years of development, MiCA represents one of the first comprehensive crypto frameworks. The rules are expected to be fully implemented in December. Kraken’s partnership with DLT Finance is part of the company’s broader European expansion strategy, which includes efforts to acquire Dutch crypto broker Coin Meester B.V. and obtain E-Money Institution approval from Ireland’s central bank.

These recent achievements allow Kraken to operate in several European countries, including Ireland, Italy, Spain, and Belgium. With its continued growth and expansion in Europe, Kraken is poised to become a leading player in the region’s cryptocurrency market.

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