Coinbase's vice president of international and business development, Nana Murugesan, revealed that the crypto company is planning to open offices in Italy, France, Spain, Switzerland, and the Netherlands, after obtaining licences in Ireland, Germany, and the United Kingdom.
Despite being the largest cryptocurrency exchange in the US, Coinbase faces stiff competition from rivals such as Binance and FTX. Binance's US division recently dropped fees for four bitcoin trading pairs, causing Coinbase's stock to plummet. Binance is also attempting to expand throughout Europe, having received regulatory approvals from France and Italy to operate as a Digital Asset Service Provider (DASP) in May, and is actively seeking a licence in Germany.
0 Comments