According to a press release on Thursday, Coinbase has successfully registered with the Dutch Central Bank (De Nederlandsche Bank – DNB) as a crypto service provider. This appproval will allow the platform to offer crypto-related products and services to the Dutch.
Coinbase is a platform that makes it very easy to buy cryptocurrencies like Bitcoin and Ethereum. It is one of the most popular crypto-exchange platforms with tens of millions of users. It is also the first company in the crypto industry to go public in the United States, in April 2021.
According to the release, it’s also the first to receive DNB registration approval – an important step in Coinbase’s continued international expansion.
Coinbase to bring the potential of the crypto-economy to the market
Indeed, Coinbase sees industry regulation as an “enabler” of crypto’s growth, establishing clear ground rules that will create an environment that encourages innovation and builds public and policymaker confidence in the industry.
Nana Murugesan, Vice President, International and Business Development at coinbase said:
We are pleased to announce that Coinbase has successfully registered with the Dutch Central Bank (De Nederlandsche Bank – DNB) as a crypto-service provider.
The Netherlands is a key international market for cryptos, and I am very excited that Coinbase can bring the potential of the crypto-economy to the market.”
Launched in 2012 by software engineer Brian Armstrong and former Goldman Sachs trader Fred Ehrsam, Coinbase is a trading platform that allows users to buy, sell and store cryptocurrencies.
Originally, Coinbase only allowed for Bitcoin trading. However, as the crypto industry really took off, the platform began to diversify its offerings and support more assets. Today, more than 160 cryptos are supported.
Today, Coinbase serves customers in nearly 40 European countries through dedicated hubs in Ireland, the UK and Germany. Additional registrations or license applications are pending in several key markets in accordance with local regulations.