Coinbase, undoubtedly one of the biggest crypto exchanges out there, is once again in the news for all the right reasons.
The San Francisco-based company has plans to expand in Europe, according to a new press release by the company. It has recently acquired new office space in Dublin, Ireland, which, according to experts, is also a part of the bigger picture as the company is planning for when Brexit comes into effect.
Europe is one of Coinbase’s biggest and fastest growing markets. Coinbase intends to make full use of this opportunity and may even spread to other European cities in the future. The press release said,
“We explored a variety of cities across the EU, and Dublin was the clear choice. Our new office will help us tap into the city’s diverse talent pool and long-standing support for technological innovation, including a burgeoning cryptocurrency economy.”
However, the company appears to have no intention to shut the London’s office or move it anywhere else. The new team will handle several business-related tasks, but the London office will continue to be the company’s European head office.
What Others Have to Say
Ireland appears to be excited about the developments. Michael D’Arcy, country’s Minister for Financial Services and Insurance said:
“I am delighted that Coinbase is opening an office in Dublin. This decision highlights the competitive offering and attractiveness of Ireland for financial services.”
On the other hand, Coinbase’s U.K. CEO Zeeshan Feroz said:
“It is also a plan B for Brexit. As we plan for all eventualities, it’s important that we continue servicing our customers across Europe, and Ireland would be our preferred choice there if it comes to it.”
There’s no word yet on what Brexit holds for the UK or when it will truly come into effect, if ever. However, Coinbase appears to be well prepared for what’s to come.
Related post: