The official announcement stated, “As momentum for crypto builds around the world, Coinbase is executing on Phase II of our “Go Broad, Go Deep” strategy for international expansion.”
Coinbase announced its plans to acquire licenses in the EU, UK, Canada, and other nations as the crypto exchange enters the second phase of international expansion.
In its blog post, Coinbase praised Europe for adopting clear policies on the regulation of crypto assets by approving the MiCA bill earlier this year. Coinbase also seeks to diversify its business by expanding to markets all over the world, with Europe, Canada, Australia, Brazil, and Singapore being the firm’s near-priority targets.
As part of Phase II of its “Go Broad, Go Deep” expansion strategy, Coinbase intends to work closely with the members of G20 and other financial institutions to create global standards for crypto regulation. Moreover, Coinbase is in the final stages of selecting a MiCA hub in the EU region.
Coinbase has started to double down on its efforts to expand overseas after the SEC clamped down on major crypto platforms at the beginning of 2023. The exchange has secured multiple VASP registrations and licenses with the regulators in Italy, Ireland, and the Netherlands over the past months. Besides establishing an offshore derivatives exchange in Bermuda, Coinbase CEO Brian Armstrong recently noted the exchange may move out of the US if regulators continue to remain vague on the crypto policies.
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Ayush Pande
Ayush Pande is a hardware, gaming, and crypto writer based in India. He's a tech enthusiast who's fascinated by the potential of blockchain technology.
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