Coinbase is exploring the possibility of targeting regions with well-established regulatory frameworks in the cryptocurrency industry. Their near-term priorities include the European Union, the United Kingdom, Canada, Brazil, Singapore, and Australia.
Coinbase, the cryptocurrency exchange (COIN), has outlined its strategy for international expansion, with a strong emphasis on obtaining licenses in prominent financial jurisdictions that have implemented well-defined regulations within the cryptocurrency industry. The European Union, the United Kingdom, Canada, Brazil, Singapore, and Australia are among the top-priority regions in the near term.
In April, CEO Brian Armstrong indicated that Coinbase, a company listed on Nasdaq, was considering various options, including relocating from its U.S. headquarters due to regulatory uncertainty in the country. However, by August, he made it clear that departing the United States is currently not a viable consideration, at least for the time being.
In a recent blog post, the company revealed that it is nearing the completion of its selection process for the location of its European Union hub, saying it wishes to “leverage our being the most trusted brand in the crypto space ahead of the European elections in June 2024.”
The exchange also plans to expand its derivatives offering to new markets and establish partnerships with banks and payment providers.