Mon, July 22, 2024

San Francisco-based Crypto Exchange and Ireland

Ireland and cryptocurrency firms

Crypto-related companies continue to expand as they would like to attract customers from different parts of the world. One such crypto exchange is Coinbase. This San Francisco-based exchange would like to serve not only the American but European and Asian clients as well.

Recently it made a huge step forward in this direction. Let’s have a look at this crypto exchange.

Coinbase is regulated in New York as a chartered custodian with the ability to hold funds on behalf of clients.

Crypto exchange and custody operations in Dublin

Coinbase and new entity

This week Coinbase opened new custody operations in Dublin, Ireland. Crypto exchange decided to open the center to help non-U.S. institutional clients to store their assets.

Moreover, on Wednesday, the exchange operator announced that it plans to create Coinbase Custody International. This step would allow the crypto exchange to expand its institutional efforts further abroad.

Coinbase already serves clients in Europe. The new unit will focus on the needs of European customers.

Europe is a strategic market for the Coinbase, according to the CEO of Coinbase, Custody Sam McIngvale stated that Europe represents the biggest geographic segment of growth.

Moreover, the CEO of Coinbase Custody said Coinbase plans to apply for a license in Europe. One option is to gain authorization under the EU’s MIFID investment services laws.

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At the moment, the company has more than $7 billion worth of assets under custody. Out of $7 billion, just under $1 billion belongs to European and international clients.

Coinbase is known for its retail investment platform. However, Coinbase also sells professional trading and custody services to wealthy institutional investors.

Cryptocurrencies step by step become more popular, and crypto exchanges are willing to develop new plans on how to serve the clients. Thus, it makes sense as the number of crypto owners is growing, and companies should facilitate the process of crypto adoption.


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