Coinbase receives e-money license in Ireland to further expand into Europe

Exchanges • October 14, 2019, 3:55AM EDT

Photo by Christie Hemm Klok for The Washington Post via Getty Images

Cryptocurrency exchange Coinbase has received an e-money license from the Central Bank of Ireland.

Zeeshan Feroz, CEO of Coinbase U.K., announced the news in a blog post on Friday, saying that the license will help the exchange expand its Irish operations, as well as allow it secure passporting for customers across the European Union (EU) and the European Economic Area (EEA).

Passporting allows a firm registered in the European region to do business in any other member state without the need for further authorization from each country.

“Europe represents a huge opportunity for Coinbase,” said Feroz. The license comes exactly a year after the exchange opened an office in Dublin, the capital city of Ireland.

“European expansion will create new jobs and grow the burgeoning Irish crypto economy,” Coinbase said at the time.

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Yogita Khatri is a senior reporter at The Block, covering all things crypto. As one of the earliest team members, Yogita has played a pivotal role in breaking numerous stories, exclusives and scoops. With nearly 3,000 articles under her belt, Yogita holds the records as The Block's most-published and most-read author of all time. Prior to joining The Block, Yogita worked at crypto publication CoinDesk and The Economic Times, where she wrote on personal finance. To contact her, email: [email protected]. For her latest work, follow her on X @Yogita_Khatri5.