The Expansion of Coinbase: Cryptocurrency Services Now Available in France

The Expansion of Coinbase: Cryptocurrency Services Now Available in France

Coinbase, one of the largest cryptocurrency exchanges, has recently announced its registration to provide cryptocurrency services in France. This move comes after the company received approval from France’s Autorité des marchés financiers (AMF) to operate within the country. With this registration, Coinbase is now authorized to offer a range of retail and institutional services, including crypto custody, crypto-to-crypto trading, and buying and selling crypto in cash.

Coinbase’s Vice President, Daniel Seifert, expressed excitement about achieving VASP status in France and the opportunity to contribute to the thriving web3 ecosystem in the country. This step enables Coinbase to continue its global growth by expanding its customer base and ensuring the security of consumers’ assets, while also prioritizing compliance. The company recognizes the potential of emerging technologies and appreciates the clarity provided by the European Union’s Markets in Crypto-Assets Regulation (MiCA) rules, which also apply to France as a member nation.

In recent months, Coinbase has been actively establishing or expanding its presence in various regions. The company expanded its services to Canada in August, obtained an AML license in Spain in September, and selected Ireland as its MiCA hub in October. These strategic moves demonstrate Coinbase’s commitment to providing its services to a global user base and complying with local regulations to ensure a secure and trustworthy trading environment.

Coinbase’s Phase II expansion efforts have been significant. In addition to its international expansions, Coinbase International, the company’s international arm, recently launched spot trading services after initially offering futures trading. This expansion allows users to engage in real-time crypto trading, further enhancing the platform’s capabilities and catering to the evolving needs of its users.

Coinbase’s reputation as one of the largest crypto exchanges is well-deserved, evident from the platform’s impressive trading volume. Over the past 24 hours, Coinbase has handled a staggering $2.6 billion in trading volume, according to CoinGecko data. This demonstrates the trust and confidence users place in the platform, making it a preferred choice for many in the cryptocurrency community.

Coinbase’s recent registration to provide cryptocurrency services in France marks another milestone in the company’s global expansion efforts. With the authorization to operate within the country, Coinbase can now cater to the needs of French customers, offering a wide range of crypto services while ensuring asset security and compliance with regulatory standards. As Coinbase continues to grow and embrace new markets, it remains committed to providing a secure and user-friendly platform for individuals and institutions alike to access and engage with the world of cryptocurrencies.

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