ALL NEWS

Coinbase strives for aggressive European expansion against the background of crypto-winter ## Coinbase already has a license to trade cryptocurrencies in the UK, Ireland and Germany.

Coinbase already has a license for the trade in cryptocurrencies in the UK, Ireland and Germany.

Coinbase expands its activities in various European countries against the background of "crypto-winter". Despite the dismissal of numerous employees and the refusal of work proposals, the Vice President of Coinbase Nana Mugroesan announced her intention to register in Italy, Spain, France and the Netherlands. In Switzerland, the cryptocurrency exchange, which was based in the United States, has already hired its first employees and already has a license to trade cryptocurrencies in the UK, Ireland and Germany. In an interview of June 29, Mugugesan said that the company is currently intending to expand in Europe. Moreover, against the background of the decline in the cryptocurrency market, the company is also open for acquisitions in this region. He believes that now the ideal moment for expansion to other countries, because many cryptocurrency companies are in a lack of cash and risks of bankruptcy. The collapse of the cryptocurrency market erased almost 2 trillion dollars from the total market value. Currently, the capitalization of the market is about $ 900 billion. Due to the liquidity crisis that forced Three Arrows Capital and Celsius Network to almost stop its activities. He said the following: "When we entered the UK and Europe, this happened during the last Big Bear Market in 2015-2016." Cointelegraph turned to Coinbase for a comment, but has not yet received an answer. Although Coinbase is the most famous cryptocurrency exchange in the United States, it is faced with rigid competition from the new participants, such as Binance, FTX and Crypto.com. When the American branch of Binance announced that the Bitcoin trade commission will no longer be charged, Coinbase shares fell. Coinbase is trying to keep up with its competitors, who are gaining more and more popularity in other regions of the world. Both Binance and FTX received licenses in the Middle East. In addition, Binance has received a license in France and Italy and is looking for permission in other European countries. Similar: Binance cryptocurrency exchange is looking for critical licenses in the Philippines, says general director While dismissal takes place in the entire technological industry, Coinbase did not stand aside. The crisis forced the company to reduce almost 18% of its global personnel in June, also affecting the staff in the United Kingdom and Ireland.

6/30/2022