Coinbase, the leading US-based cryptocurrency exchange, is looking to increase growth outside of the US as the company plans to expand its services to four European countries.
In a new company blog post, the cryptocurrency exchange says it is stepping up its expansion efforts by venturing into France, Italy, Spain, and the Netherlands after gaining a foothold in the UK, Ireland, and Germany.
“As part of our recently announced dual growth strategy, we are making a concerted effort to strengthen our presence in Europe…
We are already in the UK, Ireland and Germany. In addition, we are in the process of expanding in France, Italy, Spain and the Netherlands. In all of these markets, we aim to launch the Coinbase suite of retail, institutional, and development products.”
Recently, the European Union (EU) approved a landmark agreement known as the Markets in Crypto Assets Regulation (MiCA) to create a comprehensive cryptocurrency regulation rulebook for the 27 countries under its jurisdiction.
“This will bring important legal and regulatory certainty to the market and raise standards across the industry. This is exciting: a single, harmonized set of rules across the EU will allow us to invest, accelerate and scale our growth efforts across the bloc.
In addition, the EU has taken a big step forward by reaching a sensible agreement for the implementation of the Travel Rule to combat financial crimes and the transfer of illicit funds.”