Crypto Giant Kraken Makes Waves in Europe with New German Deal

• Kraken unveils a strategic alliance aimed at enhancing its product offerings in Germany, a crucial market for crypto adoption in Europe, with specialized services powered by DLT Finance starting around July 10, 2024.
• DLT Securities GmbH and DLT Custody GmbH, leading BaFin-licensed crypto service providers, will operate under the name DLT Finance, offering infrastructure and regional expertise to provide safe and legal cryptocurrency services to millions of Germans.
• Kraken CEO David Ripley emphasizes collaboration with industry leaders to accelerate global crypto adoption, expressing confidence in their product suite to attract prospective clients amid Europe's mainstream crypto surge. Marius Sewing, Co-Founder & CEO at DLT Finance, highlights their commitment to regulated financial market infrastructure, expressing excitement about partnering with Kraken to advance digital asset adoption in the European Union.

By revealing a new strategic alliance that will allow Kraken to actively improve its product offering in Germany, a crucial market for the adoption of cryptocurrencies in Europe, Kraken is doubling down on its goal of expanding throughout the continent. Starting around July 10, 2024, German customers will have access to a variety of cutting-edge cryptocurrency goods through a specialized service powered by DLT Finance.

Leading BaFin-licensed crypto service companies DLT Securities GmbH and DLT Custody GmbH, which provide prime brokerage services for digital assets and crypto custody, operate under the name DLT Finance. Following the partnership's launch, DLT Finance will offer infrastructure and regional knowledge to provide millions of Germans with safe and legal cryptocurrency services.

Kraken CEO David Ripley emphasized the importance of collaborating with industry leaders to accelerate global crypto adoption, especially as over 5% of Germans already own cryptoassets. Ripley expressed confidence in their product suite and localized client service support to attract prospective clients amid crypto's mainstream surge in Europe.

Marius Sewing, Co-Founder & CEO at DLT Finance, highlighted their commitment to providing regulated financial market infrastructure for digital asset brokerage and custody, ensuring security, regulatory compliance, and technological excellence. Sewing expressed excitement about partnering with Kraken to advance digital asset adoption in the European Union.

The news comes after numerous significant achievements for Kraken in Europe. Among them are the Central Bank of Ireland's E-Money Institution (EMI) authorization that was obtained last year, the successful registration as a Crypto Service Provider (CSP) in the Netherlands this year, and the operationalization of Virtual Asset Service Provider registrations (VASPs) in Ireland, Italy, Spain, and Belgium in 2023.

What to Expect

Kraken's strategic alliance with DLT Finance signifies a concerted effort to solidify its foothold in Germany and fortify its position as a leading cryptocurrency exchange in Europe. With the combined expertise and resources of both entities, German customers can anticipate a broader array of cutting-edge cryptocurrency services tailored to meet their evolving needs and preferences. This partnership not only underscores Kraken's commitment to innovation but also reflects its unwavering dedication to facilitating seamless access to digital assets for users across the European landscape.

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