Coinbase announced that they are expanding their reach in Europe after the company obtained an e-money license from the Central Bank of Ireland. Coinbase UK CEO informed that Europe represents a huge opportunity for Coinbase, and this landmark is another positive step for them in this region. The approval from the Central Bank of Ireland would enable the exchange to expand their Irish operation and deliver a better product to customers, the CEO added.
Currently, Coinbase has more than 30 million users. Zeeshan Feroz further added that the functions that they currently cover in Dublin include compliance, finance, support operations, and more. The exchange was last year valued at $8 billion after a $3 million Series E round in October. Backers of Coinbase include Greylock Partners, Battery Ventures, Andreessen Horowitz, and Ribbit Capital.
In 2018, Coinabse teamed up Barclays, which was the first-ever partnership between a British bank and a cryptocurrency exchange. The exchange also receives a license from the UK’s Financial Conduct Authority. Irish Times reported that Martin Shanahan, CEO of IDA Ireland, congratulated the exchange on receiving the e-money license from the central bank.