Coinbase plans to expand into more European markets, despite downturn

Coinbase Global said in a blog post that it was planning to expand in Europe, despite a digital asset market downturn. 

“As part of our recently announced two-pronged growth strategy, we are driving a concerted effort to strengthen our presence in Europe,” the crypto exchange said on Friday. 

While Coinbase already has a presence in the UK, Ireland and Germany, it said it is in the process of expanding into France, Italy, Spain and the Netherlands, with a goal of launching its retail, institutional and developer products. 

On June 14, Coinbase said it would cut the size of its workforce by about 18% — or more than 1,000 people — to weather the crypto market downturn.