Coinbase Expands EU Presence with MiFID License

Coinbase Gears Up for EU Expansion with MiFID License, Aims to Expand European Derivatives Market Presence by 2024

Coinbase has announced plans to acquire a MiFID-licensed entity in Cyprus, marking a strategic move to expand its derivatives offerings throughout the European Union. The effort, which is awaiting regulatory approval, aims to significantly increase Coinbase’s market presence by 2024.

Coinbase Enters EU Derivatives Markets

The acquisition of a Markets in Financial Instruments Directive (MiFID) licensed entity is in line with Coinbase’s strategic vision to expand its product offerings, as MiFID is the cornerstone of the European Union’s regulatory framework and ensures a harmonized trading environment among member states.

By integrating the license into its portfolio, the company will be able to offer cryptocurrency-based derivatives to its European clients, which are currently limited to spot trading within the EU.

Adherence to strict compliance standards

Coinbase emphasizes its commitment to regulatory compliance and trust. As such, the acquisition process involved obtaining a license and ensuring that the entity adhered to Coinbase’s five-point global compliance standard.Kas Miner

This comprehensive framework encompasses strict anti-money laundering (AML) and know-your-customer (KYC) standards, global sanctions enforcement, and robust governance practices. It aims to set a high benchmark for compliance and operational integrity in the rapidly evolving cryptocurrency market.

Exploring Regulatory Avenues Bitcoin mining

The avenues for realizing this acquisition are wide-ranging, and Coinbase will need to go through various regulatory approvals. However, the company remains optimistic about this important step in its growth strategy. By entering the derivatives market, which makes up a large portion of the global cryptocurrency market, Coinbase is poised to tap into a new customer base and solidify its market position.