Coinbase Expanding Crypto Derivative Products in Europe
Top US cryptocurrency exchange Coinbase is set to launch digital asset derivative products in select countries within the European Union (EU). The exchange recently announced its acquisition of a licensed entity based in Cyprus under the European Union Markets in Financial Instruments Directive (MiFID).
The acquisition will enable Coinbase to expand its derivative product offerings to eligible customers across certain EU countries. MiFID is a highly regarded licensing regime governing investment services and activities, providing a comprehensive rulebook across the EU.
Coinbase acknowledges that there is still work to be done before fully operationalizing the Cyprus entity, but it expects the acquisition to be completed this year. In September, Coinbase received approval to offer perpetual digital asset futures to non-US investors through a licensed exchange in Bermuda.
Hot Take: Coinbase’s Expansion into Europe
Coinbase’s move to expand its derivative product offerings into Europe demonstrates its commitment to capturing a significant portion of the global crypto market. By acquiring a licensed entity in Cyprus, Coinbase can tap into the strong demand for derivatives among EU customers. This strategic expansion positions Coinbase as a key player in the growing European crypto market and further solidifies its position as one of the leading cryptocurrency exchanges globally.
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