Coinbase Custody, which serves as one of the leading platforms offering institutional-grade storage services to investors, has added another feather to its credit. The revolutionary firm has announced the launch of its regional office in Dublin, Ireland. With its first-ever office in the European market, Coinbase Custody aims to proliferate into the industrial domains, expand operational capabilities, and strengthen its position in the sub-continent.
According to the official statement released by the firm, post the launch, all the staking operations provided by Coinbase will now be managed under Coinbase Custody International. A unanimous source from the company has revealed that there still exists a dubious situation regarding the tax implications accruing due to staking. The investors involved in the staking process get crypto rewards for securing proof-of-Stake networks, and this restrains the investors hailing from outside the US not to stake with US-based firms.
Established in 2018, Coinbase Custody International was launched with the aim of becoming the world’s most trusted and secured crypto custodian by offering an array of services empowering the investors to make strategic investments in the virtual currency arena. Through the path-breaking vision of the dedicated team of professionals, the platform has marked its presence in the European markets which is evident through the strong customer base existing in the UK, Netherlands, Switzerland, and Germany.
The International Dublin office is likely to open doors of more lucrative opportunities for the custodian service provider. The custodial services clubbed with the expertise and market awareness of the local staff and localized SLAs will benefit Coinbase Custody International in a big way. The entity will comply with the European regulatory framework and guidelines to cater to the requirements of the investors. The entity will offer services to its customers round the clock, thus ensuring the best results as well as increased trust amongst the customers towards the network.
With Europe being one of the fastest-developing markets for virtual currencies, the newly launched custodial house will strive to include more and more digital assets in its network in the early phase. The expansion will aid the platform is building a strong customer portfolio which will eventually help the firm in deepening its roots in the markets in the long run.