Coinbase Secures VASP Registration in the UK

Coinbase (NASDAQ: COIN), one of the largest cryptocurrency exchanges in the United States, has announced a significant milestone in its global expansion strategy. The company has also obtained its Virtual Asset Service Provider (VASP) registration from the UK’s Financial Conduct Authority (FCA), solidifying its position as the country’s most significant registered digital assets player. This regulatory approval allows Coinbase to offer cryptocurrency and fiat currency services in the UK, its largest international market.

The VASP registration marks a pivotal moment for Coinbase, which advocates for adopting cryptocurrencies and blockchain technology worldwide. Moreover, with its growing crypto ecosystem and supportive regulatory environment, the company sees the UK as a key market for its mission to increase economic freedom and onboard the following billion users into the crypto economy.

A Strategic Step Forward

Additionally, Coinbase emphasized the importance of this registration in unlocking new opportunities for millions of UK residents. The company highlighted the UK government’s and FCA’s efforts to develop a welcoming regulatory framework for the crypto sector, aligning with a global trend of embracing economic freedom and innovation.

“Crypto is the most important technology that can generate growth in the world, and the UK is poised to benefit from this,” Coinbase stated. The company believes that cryptocurrencies have the potential to fuel economic prosperity, and the UK’s progressive stance on regulation positions it as a leader in the global crypto ecosystem.

Also, Keith Grose, Coinbase UK’s Senior Country Director, took to social media to share his excitement about the company’s latest achievement. “Coinbase has officially obtained our VASP registration in the UK!” he announced. “With this registration from the FCA, Coinbase is now the largest registered digital assets player in the country and can offer both crypto and fiat services, unlocking new opportunities for millions of people.”

Grose emphasized Coinbase’s mission to increase economic freedom globally and onboard the following billion users into the crypto economy. He noted that the UK’s thriving web3 ecosystem and supportive regulatory environment have already led to significant crypto adoption, with 8.8 million adults in the UK now owning cryptocurrencies.

Coinbase Secures VASP Registration in the UK

“The UK has the potential to stand among the global leaders in the crypto ecosystem,” Grose added. “The direction is clear, and I’m excited to continue building with the Coinbase team to make it happen!”

Coinbase’s VASP registration is a regulatory milestone and a critical step in the company’s ambitious expansion plans. The exchange commits to partnering with high-bar regulators worldwide to promote economic freedom and foster innovation in the crypto space. Coinbase aims to advance a pro-tech agenda that supports the growth of blockchain technology and its applications by working closely with policymakers.

The company also highlighted the transformative potential of cryptocurrencies and blockchain technology in the UK. From stablecoins revolutionizing payments to creating new jobs and driving investment, Coinbase believes that this “game-changing technology” will bring remarkable rewards to the UK economy.

A Bright Future for Crypto in the UK

Coinbase’s registration comes when crypto adoption in the UK is surging. The country’s supportive regulatory environment and vibrant community of builders and innovators have positioned the UK as a hub for blockchain technology and digital assets. Coinbase expressed enthusiasm for joining the UK’s journey and contributing to its pro-growth and innovation agenda.

As the crypto industry continues to evolve, Coinbase remains dedicated to maintaining the highest standards of security and compliance while driving greater adoption of cryptocurrencies. The company’s core thesis—that increased crypto adoption will enhance economic freedom—remains at the heart of its mission.

With its FCA registration secured, Coinbase is poised to play a leading role in shaping the future of the UK’s crypto ecosystem, bringing innovative solutions and opportunities to millions of users nationwide.

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