Coinbase Moving to Europe?

 

Hi all!

 

It seems that Coinbase management has had enough pressure on the crypto exchange in the US and they have intensified their expansion into Europe.

 

On September 22, the company received a license from the Spanish Central Bank which makes it possible to operate cryptocurrencies and other digital assets in Spain. Of course, this is not the entire European Union yet, but since Spain is part of this association, I think EU citizens can easily use the platform.

 

In general, Spain seems to be one of the EU countries most loyal to cryptocurrencies. In June the Crypto.com exchange received approval from Spanish regulators. And cryptocurrency has become the second most popular payment method in the country. Moreover, it has overtaken bank transactions. The first one, oddly enough, is cash.

 

Last week, information emerged about negotiations between Coinbase and FTX Europe. The crypto exchange intends to acquire this bankrupt asset in order to enter the derivatives market. Interestingly, Coinbase made its first takeover attempt in November 2022, when FTX collapsed.

 

 In my opinion, the purchase of FTX Europe is a great move by the company. If the deal goes through and the exchange manages to restart, I think it will be highly appreciated by European and global users. And regulators in the US may finally understand that pressure leads to withdrawal.

 

#Coinbase #Europe #Spain