Coinbase, the renowned US-based cryptocurrency exchange platform, is strategically expanding its footprint in Europe by officially recognizing Ireland as its main crypto hub. This move comes as the platform prepares to align itself with the European Union’s upcoming regulatory paradigm for cryptocurrencies, MiCA. The firm’s decision embodies its ambition to navigate more seamlessly in the vast European market.
We are thrilled to have chosen Ireland as our MiCA hub. Ireland boasts a business-friendly political environment and a globally respected regulator.
Positioning for MiCA and Beyond
The implementation of MiCA, expected by the end of 2024, provides Coinbase with the opportunity to address a vast economic territory encompassing 450 million inhabitants spread across 27 countries. This unique regulatory framework, coupled with unified national supervision, enhances Coinbase’s operational efficiency throughout Europe. The company’s current regulatory positions include an electronic money institution license and a virtual asset service provider (VASP) certification in Ireland. Moreover, Coinbase holds a crypto permit in Germany and several national accreditations in various EU member states.
In a recent statement, Coinbase’s Vice President EMEA and Regional Director, Daniel Seifert, expressed the company’s excitement about their Irish choice. Seifert also acknowledged Ireland’s crucial role in the crypto field and expressed the company’s eagerness to collaborate with regulatory authorities in Ireland, Germany, and other European regions. The overall goal is to leverage the full potential of the crypto sector as MiCA approaches.