Coinbase is increasing its European foothold with an e-money license from the Central Bank of Ireland.

“One of just a couple of companies”

On Oct. 11, Zeeshan Feroz, the CEO of the United Kingdom arm of San Francisco-based cryptocurrency trade Coinbase, introduced that the trade had turn dead set be “one of just a couple of companies,” to have obtained an e-money license in Ireland.

Coinbase opened its first work in Dublin, Ireland, in October 2019 to assist increase its operations in Europe and as a contingency plan for when the U.Ok. leaves the EU. The Coinbase U.Ok. CEO mentioned:

“Europe represents a huge chance for Coinbase and today’s announcement is other positive step for us in the region. The approval from the Central Bank of Ireland will now enable us to expand our Irish operation and deliver a better product to customers crosswise some of our fastest-growing markets. It will also allow us to secure passporting for our customers crosswise the EU and EEA.”

Martin Shanahan, CEO of IDA Ireland reportedly congratulated Coinbase on receiving the e-money license from the Central Bank. IDA Ireland is the Irish state company answerable for attracting overseas funding to the nation. Shanahan mentioned:

“Coinbase’s choice of Dublin for this operation reinforces the strength of Ireland as a destination for business services companies, providing a consistent, certain, pro-enterprise insurance environment for businesses to grow and thrive.”

Cointelegraph not too long ago reported that in response to a report by the Canada-based Blockchain Transparency Institute (BTI), Coinbase is among the cleanest cryptocurrency exchanges inside the trade.