Coinbase, one of the world’s leading crypto exchanges, has officially launched the second phase of its ambitious international expansion plan. Its near-term focus is set on key markets, including the European Union, the UK, Canada, Brazil, Singapore, and Australia.
In addition, the company is preparing to expand its range of derivative products into new markets and establish strategic partnerships with banks and payment service providers.
In an official blog post, Coinbase highlighted its dedication to fostering growth within the global crypto ecosystem in an official blog post. They emphasized three fundamental pillars: creating transparent regulatory frameworks, driving innovation in accessible crypto products and services, and building trust through these offerings.
The global momentum toward crypto regulation and adoption is unmistakable, with 83% of G20 member nations and major financial hubs making strides toward regulatory clarity.
Europe has notably led the charge, adopting the Markets in Crypto-Assets (MiCA) regulation in April 2023, providing regulatory certainty across all 27 EU countries. The region’s proactive approach has catapulted it to the forefront of the blockchain job market, claiming 68% of such positions worldwide.
The exchange is actively shaping the regulatory landscape by collaborating with governments where clear regulations exist, fostering the long-term growth of the crypto industry. This proactive approach has led to significant progress in 90% of Coinbase’s international markets throughout the past year.
Coinbase’s Expansion Plan
In “Phase II” of its international expansion strategy, Coinbase is planning to:
- Obtain licenses and establish operations in markets with clear regulations, focusing on Europe (EU and UK), Canada, Brazil, Singapore, and Australia.
- Extend its product and service offerings across the globe, including derivatives products.
- Foster partnerships with global banks, payment providers, and relevant brands.
- Ensure compliance with local regulations in every jurisdiction of operation.
- Engage with the community to leverage its status as the most trusted brand in the crypto space.
However, Coinbase’s expansion plans align with the ongoing regulatory developments worldwide. While countries like the UK, UAE, Australia, Canada, Hong Kong, and Japan have made significant strides in shaping crypto-friendly environments.
While the US has adopted a more cautious approach, the company believes that collaboration between the crypto sector and the US government is essential for this endeavor.
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