Coinbase Announces International Expansion Plans
Coinbase reveals its plans for international expansion, focusing on jurisdictions with clear regulations for the crypto industry. The company aims to leverage its trusted brand and establish partnerships with banks and payment providers.
Posted 10 months ago in Blockchain
Cryptocurrency exchange Coinbase (COIN) has unveiled its plans for international expansion, focusing on acquiring licenses in major financial jurisdictions that have clear regulations for the crypto industry. The company's near-term priorities include the European Union, U.K., Canada, Brazil, Singapore, and Australia.
In April, Coinbase CEO Brian Armstrong stated that the company was considering all options, including relocating from the United States, due to the lack of regulatory clarity in the country. However, in August, he clarified that leaving the U.S. is currently not a possibility.
In a recent blog post, Coinbase announced that it is in the final stages of selecting the location for its EU hub. The exchange aims to leverage its reputation as the most trusted brand in the crypto space ahead of the European elections in June 2024. Additionally, Coinbase plans to expand its derivatives offering to new markets and establish partnerships with banks and payment providers.
With these expansion plans, Coinbase aims to tap into markets with clear regulatory frameworks to ensure compliance and facilitate the growth of the crypto industry.
Last updated 9/10/2023, 1:48:01 PM
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