More

    Coinbase Acquires e-money License from the Central Bank of Ireland

    • Coinbase becomes one of the few companies like Facebook and Stripe to obtain the license
    • The e-money license in Ireland is part of the company's European journey and expansion

    Cryptocurrency exchange Coinbase is all set to expand its operations in Europe with its e-money license from the Central Bank, the company announced on Oct. 12.

    With this step, Coinbase has become “one of just a few companies” that received the e-money license. Facebook and Stripe are two of the handful of businesses that obtained the license to provide services for users across Europe.

    Last year, the company made its first step into Ireland with a new office in Dublin. Now, it has received an e-money license by the Central Bank of Ireland.

    Europe, the company says “represents a huge opportunity” for Coinbase and this approval will allow it to secure passports for its customers across the EU and EEA.

    This second regulatory approval from the European regulatory authority positions the company as the “world’s most trusted cryptocurrency platform.” It further means providing the same safeguarding and security as any other regulated financial institution.

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

    said Martin Shanahan, CEO, IDA Ireland.

    The company currently employs more than 40 people in the Republic, shared Zeeshan Feroz, UK chief executive of Coinbase. After obtaining this new license, the headcount, he said would continue to grow locally.

    “The intent was always to provide a base for us in the EU beyond Brexit, but it has also given us access to talented resources and to the license we’ve just received,”

    said Feroz.

    He further shared that Coinbase handles compliance, finance, support operations and other functions in Dublin.

    “There’s a whole bunch of things we’ve placed in Dublin to operate as a service centre for Europe and other markets, and as we continue to grow Ireland is positioned very well to hire more people,”

    he added.

    Get Free Email Updates!

    *Action* Enter Best Email to Get Trending Crypto News & Bitcoin Market Updates

    I will never give away, trade or sell your email address. You can unsubscribe at any time.

    AnTy
    AnTy
    AnTy has been involved in the crypto space full-time for over a year now. Before his blockchain beginnings, he worked with the NGO, Doctor Without Borders as a fundraiser and since then exploring, reading, and creating for different industry segments.

    [Alert] Use the author's self-conducted information at your own risk, do you own research, never invest more than you are willing to lose.

    [Disclosure] The published news and content on BitcoinExchangeGuide should never be used or taken as financial investment advice. Understand trading cryptocurrencies is a very high-risk activity which can result in significant losses. Editorial Policy \\ Investment Disclaimer

    LEAVE A REPLY

    Please enter your comment!
    Please enter your name here

    3,353FansLike
    2,773FollowersFollow
    4,130FollowersFollow

    Live Bitcoin Price & Latest BTC Charts

    Today's Latest Crypto News

    Crypto Community Sentiment Still Bullish Despite BTC Trading 40% Lower Than Yearly High

    Bitcoin proponents had a lot of expectations from 2020, given the impending Block Reward Halving and the expected bull run. The year started as...

    Modern Monetary Theory (MMT) vs BTC to be the Main Event of 2020

    The biggest global emergency of the century, COVID-19 pandemic has the Treasury officials trying to decide on how much they can spend to fight...

    This Crisis Is A ‘Perfect Storm' For Bitcoin But We Could Be In For A ‘Prolonged Bear Market'

    Bitcoin is back in the green, recording the gains of 3.14% in the past 24 hours while volume on the top ten exchanges with...

    Banking Giant Santander to Bring One Pay FX Payment System to Mexico Utilizing RippleNet

    In 2020, the major Spain-based bank Santander is planning to roll out the One Pay FX program, its Ripple powered system for international payments,...

    Bitcoin Bull Market Won’t be Happening Immediately After the Halving: Bitmain CEO

    Bitcoin is currently trading above $6,300, still down over 14% on a year-to-date basis but up more than 60% from the 2020 low of...

    BitcoinExchangeGuide is a hyper-active daily crypto news portal with care in cultivating the cryptocurrency culture with community contributors who help rewrite the bold future of blockchain finance. Subscribe on Google News, see the mission, authors, editorial links policy, investment disclaimer, privacy policy. Got News? Contact us, we are human too. Note: nothing here is financial advice, do your own research thoroughly.