The well known cryptocurrency company to expand its operations
There was a report on Thursday, December the 20th that stated that Coinbase will be bringing its services to more European countries. This was on day 11th of the “Coinbase Initiative” , which is a new announcement procedure that will be held on a daily basis from the 10th of December until the 21st of December 2018.
The company announced these six new markets, of which consisted of Lithuania, Andorra, Gibraltar, Guernsey, Isle of Man and Iceland. The developments in these European countries will open new market opportunities for Coinbase and the cryptocurrency industry as a whole.
According to reports coming from Coinbase, since its was founded back in 2012, it has continuously worked towards the development of cryptocurrencies. The company has a strong mission ahead to create an open financial system for the world, and has grown a lot over the last six years. Coinbase has expanded its Footprint from its inception in the United States to more than 42 countries around the world. This includes the six countries that was added yesterday with great effort and support from companies and individuals alike.
The ease of purchase of cryptocurrencies through Coinbase
The company’s list of European Countries and others currently consist of the following:
- North America, with Canada and the United States
- European Countries: Andorra, Austria, Belgium, Bulgaria, Croatia, Cyprus, Czech Republic , Denmark, Estonia, Finland, France, Greece, Estonia, Finland, Cyprus, Hungary, Iceland, Latvia ,Portugal, Liechtenstein, Luxembourg, Lithuania, Malta, Monaco, the Netherlands, Norways, Poland, Slovakia, Slovenia, Spain, Sweden, San Marino, Switzerland, Italy, Jersey, Romania Poland and with the UK.
- Asian-Pacific counties like: Australia and Singapore
The customers within these six new European markets will be able to use the Coinbase platform for consumers through Coinbase.com. This will be available on the Coinbase mobile app which is now available for Android and iOS devices. Which will allow users to buy and sell cryptocurrencies with ease on the Coinbase platform for the very first time. The company also has plans to make Coinbase pro and Prime available in these regions in the coming years.
The company is looking forward to an aggressive expansion plan for 2019 said Feroz of Coinbase, in which he stated that:
“I think you can expect a more aggressive approach to us adding more countries in the coming months. Much of what we’re doing here is driven by customer needs and what we’re seeing in the markets.”
Zeeshan Feroz is currently the CEO of Coinbase UK and he told CNBC earlier that when the company is deciding to add countries to its global expansion. The company looks for markets that are geographically close to existing jurisdictions in which it operates. Coinbase has decided to open up an office in the UK because of the Separation of the UK from the European Union. The company has also recently opened up an office in the Republic of Ireland and Dublin which is expected to serve in the future as its European headquarters for Business operations and the development of cryptocurrencies.
What do you think of these developments? Please feel free to leave a comment down below.