Coinbase releases update on its global expansion
Coinbase is doubling down its efforts to make the presence felt in a true sense. The aim is further the mission of enabling economic freedom to the community. A way in which Coinbase has chosen to move across the border is by working with regulators and establishing its operations as a legalized entity.
Customers are at the gaining end, for they can be assured that the services of Coinbase will be focused on their protection and trust. This framework, as is evident with the intentions of Coinbase, applies to all jurisdictions irrespective of the region they are located in.
Going global and deep with development is part of its 8-week international expansion drive. The community has held on to its card by believing that Coinbase will do its part thoroughly. It is time for the platform to follow through and share the updates.
Coinbase has done that through an official blog post, highlighting its achievements and progress made in all the major jurisdictions under the Go Broad & Go Deep Strategy.
Customers in Singapore are now finding it convenient to access the crypto-economy following the launch of Singpass. It is complemented with bank transfers to ensure that the retail experience of customers in Singapore is nothing but convenient and seamless.
The goal at the macro level for the crypto industry has been to onboard millions of users, including those who are yet to be educated about the field. A move by Coinbase definitely brings positives in every review of Coinbase. Strengthening its position in Singapore is the partnership with Standard Chartered Bank to provide a trading experience in digital assets.
Customers in Brazil, too, have access to an entire set of crypto experiences, empowering them to leverage economic freedom. Integration of Pix with Coinbase has worked wonders since it allows customers to top-up their accounts using Brazilian Reals. The application interface has been localized with 24/7 email support in partnership with EBANX.
Fabio Plein, the Country Director, has expanded their role to Regional Managing Director.
A similar approach has been adopted in the Canadian Market, where Lucas Matheson is chairing the role of the Country Director. The most recent update in Canada is Coinbase signing the Pre-Registration Undertaking to work with policymakers in constructing a strong crypto economy. The update dates to March 24, 2023.
Plans with the Abu Dhabi Global Market regulator are underway, with discussions being held with the Financial Services Regulatory Authority, also known as FSRA. Discussions currently center around obtaining a license for a regulated exchange. If granted, Coinbase does have the potential to climb up the list of the top crypto exchanges in the UAE. Coinbase intends to further the mission of ADGM in developing and supporting the environment for the global market.
Class F License has been granted to Coinbase Bermuda Ltd by BMA, short for the Bermuda Monetary Authority. BMA is a reputed financial regulator, and obtaining a license reflects well on the brand image of the venture.
The UK has a market of 22% of adults owning cryptocurrency. This gives Coinbase a sufficient share to tap and double down the growth in Europe. The UK Fintech Week is underway, with representatives from Coinbase, including Brain Armstrong, making their presence felt. What’s encouraging is that the team is meeting Andrew Griffith, the Economic Secretary & City Minister, along with the Bank of England & the Financial Conduct Authority.
The European Parliament has adopted MiCA, marking a major milestone for the crypto industry in Europe since it provides clarity in all 27 EU member states.