Planning for Brexit: Crypto Exchange Giant Coinbase Opens Office in Ireland

Planning for Brexit: Crypto Exchange Giant Coinbase Opens Office in Ireland

Cryptocurrency exchange Coinbase has opened a new office in Dublin to mark its latest expansion into Ireland as a marked effort to “plan for all eventualities for Brexit,” according to a top Coinbase executive.

In an announcement on Monday, San Francisco-based cryptocurrency exchange Coinbase – the industry’s first ‘unicorn’ – said Dublin “was the clear choice” in its ongoing expansion effort. The new office in Dublin will compliment Coinbase’s existing operations in London, the base for its EU operations.

Ireland’s minister for financial services and insurance Michael D’Arcy stated:

Pointedly, Coinbase adds it ‘explored a variety of cities across the EU’ to earmark potential outposts across European nations at a time when Britain’s exit from the European bloc looms large. The contingency plan is particularly relevant as European Union users of Coinbase “grew faster than any other market in 2017,” according to the company.

Coinbase UK chief executive Zeeshan Feroz underlined the importance of Dublin as a new base in Europe, telling Reuters:

Coinbase insists that its headquarters outside the U.S. will remain in London, for a company that supports cryptocurrency trading in 32 countries presently.

As reported previously, Coinbase received an e-money license from the UK’s financial regulator in March this year, granting the exchange to provide services to customers in the United Kingdom and all 23 countries within the European Union. The Dublin office is strategically positioned to continue operations and services in EU nations after Brexit, wherein the United Kingdom is set to leave the EU by March 2019.

With a pro-Fintech agenda, Ireland is quickly becoming a destination for blockchain development. In June, Irish prime minister Leo Varadkar earmarked budgetary spending for Ireland’s state-run Industrial Development Authority (IDA), days after the latter had launched ‘Blockchain Ireland’, a research and development initiative for the sector.

Earlier in January 2017, services giant Deloitte opened its blockchain lab in Dublin with a team of 50 employees exclusively offering consultancy and services with blockchain tech for clients in Europe and the Middle East.

Dublin image from Shutterstock.

• Join CCN's crypto community for $9.99 per month, click here.
• Want exclusive analysis and crypto insights from Hacked.com? Click here.
• Open Positions at CCN: Full Time and Part Time Journalists Wanted.
16.10.2018 / 02:45 26
Crypto Startup Coinbase Doubles Down On Expansion Efforts Crypto Startup Coinbase Doubles Down On
Crypto Startup To Open Dublin Office Amid Brexit Concerns Amidst tumultuousmarket conditions, on Monday night, America’s foremost crypto startup
Coinbase Opens Up New Office, Aims To Hire 100 Employees In Expansion Efforts Coinbase Opens Up New Office, Aims To
Coinbase Portland Office To Hire 100 Employees Coinbase has just confirmed that it plans to open a new office in Portland, hiring 100 employees to
Cryptocurrency Exchange Giant Coinbase is Officially Launching in Japan Cryptocurrency Exchange Giant Coinbase
With a presence in 32 countries already, US cryptocurrency exchange Coinbase is expanding into Japan, one of the world’s biggest cryptocurrency
Coinbase Granted UK E-Money License & Bank Account for UK, EU Markets Coinbase Granted UK E-Money License
Major cryptocurrency exchange Coinbase is making significant strides in its European expansion. San Francisco-based Coinbase has now received an
Coinbase Receives E-Money License For Fiat Activities From UK, Its Biggest Market Coinbase Receives E-Money License For
In a show of “approval” for Coinbases KYC compliance, UKs Financial Conduct Authority has granted Coinbase an e-money license Crypto exchange and
Coinbase Receives E-Money License from UK Financial Regulator Coinbase Receives E-Money License from
Coinbase is officially expanding digital money services in the U.K. and EU. The U.K.'s Financial Conduct Authority granted Coinbase an e-money
Comments (0)
Add a comment
Comment on