Cryptocurrency exchange Coinbase will begin offering its services in the Netherlands after gaining approval to operate in the country, which has the fifth-largest economy in the European Union.
Coinbase says it is currently the first global cryptocurrency exchange to successfully register with the Dutch Central Bank.
This achievement is part of the company’s continued expansion in countries outside the United States.
Nana Murugesan, coinbase’s vice president of international development and business, said the approval illustrates how the company is working to bring its cryptocurrency offerings under regulations to facilitate the growth of the industry and improve public confidence in the sector.
As part of the ambition of Coinbase, the world’s most trusted and secure cryptocurrency platform, we have made strides to partner with governments, policymakers, and regulators to shape the future responsibly. Coinbase prides itself on being a regulatory compliance business. The Netherlands is an important international market for cryptocurrencies, and I’m really excited that Coinbase is bringing the potential of the crypto economy into this market.
With the approval, the company is allowed to offer cryptocurrency products to consumers and businesses in the Netherlands. Coinbase is one of 30 cryptocurrency service providers registered with the country’s central bank.
Coinbase, which is based in California and is the leading U.S. cryptocurrency exchange, said it already offers services to customers in nearly 40 European countries. They say applications and permit applications are pending in several other major markets.