Coinbase receives license from Bafin
Lisa Marie Münster
| 01.07.2021
The US company is now officially allowed to trade cryptocurrencies in Germany.
Crypto custody has only been subject to licensing in Germany since last year. Now, German financial regulator Bafin has granted US-based trading platform Coinbase a license to trade and hold cryptocurrencies. "This is an important step that allows us to expand our product range and grow our German business," said Coinbase managing director for Germany Marcus Hughes.
Shares in the US parent company reacted to the licence with a ten percent rise. Founded in 2012, Coinbase has only been listed in the US since April this year. CEO Brian Armstrong announced a few days ago that Coinbase wanted to build an app store for its customers and give more people access to trading cryptocurrencies. The company is particularly focused on expanding in Europe, Armstrong wrote in a blog post.
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