Coinbase Expands in Europe with VASP Approval
Cryptocurrency exchange Coinbase has been granted approval to operate as a Virtual Asset Service Provider (VASP) in France. This registration allows Coinbase to offer a wide range of products and services to both retail and institutional clients in the country.
Coinbase’s VASP Registration
Coinbase announced the receipt of its VASP registration in France through a blog post. The registration, known as the “PSAN – Prestataire de Services sur Actifs Numériques,” was issued by the AMF. This approval enables Coinbase to provide its full suite of services to users in France.
Services Allowed Under the Registration
The VASP registration enables Coinbase to offer various services in compliance with French legislation. These services include the custody of digital assets, buying or selling digital assets in legal tender, and trading digital assets against other digital assets.
Increasing Crypto Demand in France
As demand for cryptocurrency rises in France, Coinbase has chosen Ireland as its EU MiCA hub, marking a significant step in its international expansion plans. The exchange plans to work with regulators in Ireland, Germany, and other EU member states to leverage their expertise and bring the industry to its full potential.
Growth Strategy and Regulatory Approvals
Coinbase’s registration in France is part of its international expansion strategy. The exchange has previously received approvals from the Bank of Spain, the Bermuda Monetary Authority, and the Monetary Authority of Singapore. These regulatory approvals allow Coinbase to cater to a global customer base while prioritizing compliance and security.
Hot Take: Coinbase Expands its European Presence with VASP Approval in France
With the recent VASP registration in France, Coinbase solidifies its position as a leading cryptocurrency exchange in Europe. This approval enables Coinbase to offer its comprehensive suite of services to retail and institutional clients in the country. The expansion into France aligns with Coinbase’s goal of bringing the benefits of crypto to a wider audience while maintaining regulatory compliance. As demand for cryptocurrency grows in France and across the EU, Coinbase continues to strategically expand its presence to meet the needs of users and contribute to the thriving web3 ecosystem.
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