Crypto Exchange Coinbase Granted Operating License in European Union’s Fifth-Largest Economy

Crypto exchange Coinbase will begin offering its services in the Netherlands after winning approval to operate in the country, which has the fifth largest economy in the European Union.

Coinbase says they are now the first major global crypto exchange to successfully register with the Dutch Central Bank, the central bank of the Netherlands.

The achievement is part of the company’s continued expansion in countries outside of the United States.

Nana Murugesan, Coinbase’s vice president of international and business development, says the approval illustrates how the company is working to bring its cryptocurrency services under regulations to facilitate industry growth and improve public trust in the sector.

“As part of Coinbase’s ambition to be the world’s most trusted and secure crypto platform, we have taken strides to work collaboratively with government, policymakers and regulators to shape the future in a responsible way. Coinbase prides itself on being a compliance-led business. The Netherlands is a critical international market for crypto, and I am really excited for Coinbase to bring the potential of the crypto economy to the market here.”

With the approval, the company is permitted to offer crypto products to consumers and businesses in the Netherlands. Coinbase joins more than 30 cryptocurrency service providers registered with the central bank.

Coinbase, which is based in California and is the top US cryptocurrency exchange, says it is already providing services to customers in nearly 40 European countries. They say other registrations or license applications are pending in a number of major markets.

Featured Image: Shutterstock/klyaksun