- Coinbase is seeking to acquire a MiFID-licensed entity to expand our derivatives offering in the EU. The deal is subject to regulatory approval and would be expected to close later in 2024.
- This license would help expand access to our derivatives products by allowing Coinbase to offer them to eligible European customers in select countries across the EU.
- As the industry leader in trusted, compliant products and services, we aim for the highest standards for regulatory compliance, and before operationalizing any license or serving any users, this entity must achieve our Five-point Global Compliance Standard.
Coinbase’s mission to provide financial freedom to more than a billion people drives us to build the most reliable, compliant products and services that can be used all over the world. Our Go Broad, Go Deep strategy and Five-point Global Compliance Standard are helping us pursue international expansion, including launching new operations in key markets and rolling out derivatives products.
As part of this growth, Coinbase is looking to acquire a MiFID licensed entity based in Cyprus, which is governed by the EU’s Markets in Financial Instruments Directive. This license would increase the availability of our derivatives products in select countries in the EU. All member states are subject to the same Anti-Money Laundering, Know-Your-Customer, and sanctions regulations.
Coinbase’s team of more than 400 compliance and legal professionals, with backgrounds from the FBI, DOJ, OFAC, FinCEN, Scotland Yard, and major banks are driving our Five-point Global Compliance Standard to ensure that our products and services are trustworthy.
This acquisition is expected to close in 2024 and is subject to customary closing conditions including regulatory approval. It will help us capture more of the global crypto market and bring a global and open financial system to 1 billion people.
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