Nasdaq-listed cryptocurrency exchange Coinbase has received regulatory approval to offer crypto services in Italy.” Coinbase is committed to bringing the power of our complete product suite to customers across Europe.” The company stated.
Coinbase was approved in Italy
Cryptocurrency exchange Coinbase (Nasdaq: COIN) announced Monday that it has secured regulatory approval to offer crypto services in Italy.
Nana Murugesan, the company’s vice president of international and business development, explained in a blog post.
Today we can announce an important milestone …
is to secure approval from Italian regulators to provide ongoing crypto services to its residents.
“The new requirements implemented by Organismo Agenti e Mediatori (OAM) mandated that all companies offering crypto trading, storage, or other services meet certain criteria,” the executive explained.
“Coinbase serves customers across nearly 40 European countries through dedicated hubs in Ireland, the UK, and Germany.” Murugesan emphasized that “Coinbase is committed to bringing the power of our complete product suite to customers across Europe.” The Vice President continued.
We are in the process of strengthening our presence across Europe and are in the process of registering or applying for licenses in several key markets in compliance with local regulations.
Murugesan clarified, “In each of these markets, our goal is to expand our customer base by launching the Coinbase suite of retail, institutional, and ecosystem products.”
Coinbase announced its European expansion plans last month; Murugesan revealed at the time that the company was in the process of expanding in France, Italy, Spain, and the Netherlands.
However, the NASDAQ-listed crypto exchange is not the first major trading platform to gain regulatory approval in Italy; in May, rival crypto exchange Binance said it had received regulatory approval to offer crypto products in the country.
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