Crypto exchange Coinbase will offer its services in the Netherlands after receiving approval to operate in the country, which has the fifth largest economy in the European Union.
Coinbase says they are now the first major global crypto exchange to successfully register with the Central Bank of the Netherlands, the central bank of the Netherlands.
The success is part of the company’s continued expansion into countries outside of the United States.
Nana Murugesan, Vice President of International and Business Development at Coinbase, says the approval clarifies how the company is working to bring its cryptocurrency services under regulation to fuel industry growth and boost public confidence in the sector.
“As part of Coinbase’s commitment to be the world’s most trusted and secure crypto platform, we have endeavored to work with governments, policymakers and regulators to shape the future in responsible ways. Coinbase prides itself on being a compliance-led company. The Netherlands is a critical international market for crypto and I am very pleased that Coinbase is bringing the potential of the crypto economy to the market here.”
The approval allows the company to offer crypto products to consumers and businesses in the Netherlands. Coinbase joins more than 30 central bank registered cryptocurrency service providers.
Coinbase, which is based in California and is the leading US cryptocurrency exchange, says it already offers services to customers in almost 40 European countries. They say that further registrations or license applications are pending in a number of important markets.
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