Buy $GGsBreaking: Coinbase Receives VASP License In Ireland Amid Falling Market Cap
Crypto exchange Coinbase has secured a Virtual Asset Service Provider license from the Central Bank of Ireland, the company said on Wednesday. Coinbase aims to provide products and services to individuals and institutions in Europe and internationally from Ireland. Moreover, Coinbase has named Cormac Dinan as the new Country Director for Ireland unit.
Coinbase Gets Virtual Asset Service Provider Approval
Crypto exchange Coinbase, in an official blog on its website on December 21, announced that it has registered with the Central Bank of Ireland to operate as a Virtual Asset Service Provider (VASP) in the country. Coinbase has been operating in Ireland since 2018.
Coinbase’s Irish operations will be managed by new Country Director Cormac Dinan. He has more than 20 years of experience in the financial service and fintech industries. He said:
“As the most trusted and secure crypto exchange, Coinbase has developed its technology and regulatory procedures alongside the industry as it matures. I’m looking forward to strengthening Ireland’s operations and helping the sector’s continued growth. Creating an environment which champions innovation while strengthening trust in crypto is something I am really eager to progress.”
The VASP license covers two Ireland-based Coinbase entities Coinbase Europe Limited and Coinbase Custody International Limited. Coinbase Europe provides crypto trading services across Europe and Coinbase Custody International provides crypto custody services to institutional customers across Europe.
Coinbase Falling Market Capitalization
The publicly listed crypto firm Coinbase’s market cap has fallen below $8 billion. The Coinbase (COIN) stock is down by 90% since listing in April last year, ending trading at $34.97 on Tuesday.
The reports of Coinbase’s valuation falling below Dogecoin’s market cap concerned the crypto community due to the recent collapse of FTX and Binance FUD. However, despite the crypto winter that deteriorated the market cap for crypto firms and investors’ wealth, Coinbase seeks to get additional registrations or licenses in other major countries.
Also Read: Top 10 Crypto Marketing Firms
Play 10,000+ Casino Games at BC Game with Ease
- Instant Deposits And Withdrawals
- Crypto Casino And Sports Betting
- Exclusive Bonuses And Rewards
Why Trust CoinGape
CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more… to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
Delivered every day.
- Insights that move markets
- 100,000 active subscribers
Related Articles
- Bitget Unveils Upgrade For Stock, Gold Trading Alongside Crypto As Part Of Universal Exchange Push
- ChangeNOW Is Settling Crypto Swaps in Under a Minute.
- $3B Western Union Expands Into Crypto With USDPT Stablecoin Launch on Solana
- XRP News: Key Ripple Whale Indicator Turns Bullish After Months, Price Rally Ahead?
- Crypto Market Today: BTC, ETH, XRP, SOL, and DOGE Rally as Geopolitical Tensions Ease
- Pi Network Price As BTC Rallies Above $74K: Can PI Coin Extend Gains to $0.30?
- XRP Price As Bitcoin Reclaims $74K- Is $5 Next?
- Dogecoin Price Outlook as BTC Recovers Above $73,000
- XRP Price Prediction as Iran-U.S. Peace Talks Trigger a Crypto Rally
- COIN Stock Analysis as Bitcoin Retests $72k Ahead of February NFP Data
- Robinhood Stock Price Prediction As Cathie Wood Buys $12M Dip in Bold ARK Move
