Coinbase Granted an Irish E-Money License
Coinbase announced over the weekend that the cryptocurrency exchange has been granted an e-money license by the Central Bank of Ireland. This is the second such European regulatory approval the company has obtained, as in March 2018 it received an e-money license from the U.K.’s Financial Conduct Authority (FCA).
When Coinbase opened the Dublin office exactly a year ago, they said the local team would complement the company’s operations in London. Now, being one of just a few companies to receive the Irish e-money license, they can also rely on the new Ireland team to legally serve clients across Europe. This option could be particularity useful if a no-deal Brexit affects the acceptance of the British license by regulators on the continent.
“The approval from the Central Bank of Ireland will now enable us to expand our Irish operation and deliver a better product to customers across some of our fastest-growing markets. It will also allow us to secure passporting for our customers across the EU and EEA,” stated Zeeshan Feroz, the UK CEO of Coinbase. “We are committed to ensuring that our customers have the same safeguarding and security as any regulated financial institution, and the approval of a second European regulatory authority demonstrates our position as the world’s most trusted cryptocurrency platform.”