Cryptocurrency exchange Coinbase now holds an e-money license issued by the Central Bank of Ireland.
Zeeshan Feroz, CEO of Coinbase U.K., stated in the company’s blog that this license will help the exchange spread its reach into the Irish market, and also enable clients from the European Union (EU) and the European Economic Area (EEA) to safely access crypto trading services.
The exchange opened an office in Dublin, Ireland back in 2018, with the city being one of the most promising European capitals focused on crypto development. And now, almost a year later, the exchange has received its licensing from Ireland’s Central Bank.
“Europe represents a huge opportunity for Coinbase and today’s announcement is another positive step for us in the region. The approval from the Central Bank of Ireland will now enable us to expand our Irish operation and deliver a better product to customers across some of our fastest-growing markets. “- said Feroz.
Through the license, Coinbase will be able to secure passporting for their EU and EEA-based customers. Passporting enables a firm registered in the European region to offer its services to customers from any other member state without requiring licensing from each individual country.
“We are committed to ensuring that our customers have the same safeguarding and security as any regulated financial institution, and the approval of a second European regulatory authority demonstrates our position as the world’s most trusted cryptocurrency platform.”
The UK CEO stated that this license will further their “mission of creating an open financial system for the world.”
Martin Shanahan, CEO, IDA Ireland offered his congratulations to Coinbase and its latest success:
“Coinbase’s choice of Dublin for this operation reinforces the strength of Ireland as a destination for financial services companies, providing a consistent, certain, pro-enterprise policy environment for businesses to grow and thrive.”
Featured image: Yahoo Finance