The leading crypto exchange, Coinbase, has obtained official registration in Spain from the country’s central bank.
As per the official announcement, Coinbase has secured AML registration with the Bank of Spain, which allows the company to offer crypto assets regarding services as a cryptocurrency exchange and custodian wallet provider.
The exchange describes this move as part of its second phase plan for international expansion, with a focus on acquiring licenses and registrations across countries. With the registration, Coinbase can now offer services such as crypto custody, buying and selling of crypto assets, as well as crypto-to-crypto trading in Spain.
The announcement post states that over 29% of the adult population in Spain believes that crypto is the future of finance. Spanish citizens are also reportedly interested in choosing cryptocurrency as a long term investment option.
Spain has become a leading European country in welcoming several offshore crypto companies, including the Bank of Spain approving registration for eToro in July.
“We are excited to have achieved this registration from the Bank of Spain to support and grow our retail consumers, institutional clients, and developer partners in Spain,” said Nana Murugesan, Vice President of International and Business Development at Coinbase.
Coinbase has obtained virtual asset service provider (VASP) registration in a number of countries including Italy, Ireland and Netherlands while launching services in Singapore, Brazil and Canada.
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