Expanding Horizons: Coinbase Eyes New Licensing to Introduce Crypto Derivatives in Europe
Coinbase, the leading US crypto exchange, is poised to introduce digital asset derivative products in select European Union (EU) countries.
In a recent announcement, Coinbase reveals its acquisition of a Cyprus-based entity licensed under the European Union Markets in Financial Instruments Directive (MiFID). A prestigious regulatory framework governing investment services in the EU. This move aims to expand Coinbase’s derivative product offerings to eligible customers across specific EU nations. Emphasizing the significance of MiFID in global licensing regimes for investment services, Coinbase highlights its role in the EU’s Capital Markets Union strategy.
While acknowledging the challenges ahead, Coinbase anticipates the completion of the Cyprus entity acquisition within the year. Reinforcing its commitment to meeting the growing demand for derivatives in the global crypto market. This initiative follows Coinbase’s earlier approval to offer perpetual digital asset futures to non-US investors through a licensed exchange in Bermuda. Showcasing the platform’s strategic expansion beyond its domestic market.
Clever Robot News Desk 10th January 2024
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