Amidst increasing regulatory challenges in its home country, Coinbase has revealed plans to establish its EU MiCA hub in Ireland. The decision was driven by the favorable political environment for FinTech companies in Ireland. This move is part of Coinbase’s Phase II strategy, called “Go Broad, Go Deep,” which aims to expand its presence in international markets. The company is also exploring opportunities in other EU countries, including Germany, where it recently announced the establishment of a regional talent hub.
Choosing Ireland as its EU MiCA hub will enable Coinbase to optimize its current operations and strategically expand across all 27 European member nations. This aligns with the company’s mission to introduce cryptocurrency to the next billion individuals while prioritizing consumer asset security and regulatory compliance. Coinbase has formally submitted an application for a license under the EU’s upcoming MiCA regulation and is awaiting approval from the Central Bank of Ireland. Once approved, Coinbase will obtain a comprehensive “MiCA license,” allowing it to extend its services to various EU nations through a passport mechanism.
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