Kraken to Acquire Dutch Crypto Broker BCM, Expands into Stock Trading to Compete with Robinhood

Crypto exchange Kraken has announced its plans to acquire Dutch crypto broker BCM, a move that will give them a significant position in the Dutch market. This acquisition is part of Kraken's commitment to growth in Europe and expanding its offering to a wider audience. Additionally, Kraken is planning to expand into stock trading, targeting a 2024 launch. The exchange aims to offer trading in US-listed stocks and ETFs through a new division called Kraken Securities in the US and UK. This move will put Kraken in direct competition with Robinhood.