Coinbase (COIN), a cryptocurrency exchange, announced plans for a global expansion that would center on obtaining licenses in significant financial jurisdictions “that are enacting clear rules” for the crypto industry, with the European Union, U.K., Canada, Brazil, Singapore, and Australia as near-term priorities. The Nasdaq-listed company’s CEO, Brian Armstrong, stated in April that “everything was on the table” for it, including leaving its current location in the United States because of the murky regulatory environment there.He made it clear in August that he is “not even in the realm of possibility” of leaving the United States right now.
The firm stated in a blog post published on Wednesday that it is “in the final stages of selecting the location” for its EU headquarters and that its goal is to “leverage our being the most trusted brand in the crypto space ahead of the European elections in June 2024.”The exchange also intends to cooperate with banks and payment processors and broaden the markets in which it offers derivatives.