Coinbase has officially announced the selection of Ireland as the location for its EU Markets in Crypto Assets (MiCA) hub. This decision reflects Coinbase’s commitment to leveraging Ireland’s supportive political environment for FinTech companies and its well-respected regulatory framework, the company said in an announcement.
Jennifer Carroll MacNeill TD, Minister of State at the Department of Finance, expressed her welcome to Coinbase’s continued commitment to Ireland, stating, “I welcome Coinbase’s continued commitment to Ireland and wish them every success in locating their EU MiCA entity here.” She highlighted the government’s ongoing efforts, in collaboration with the IDA, to attract businesses that contribute to Ireland’s international financial services industry’s sustainability and success.
Currently holding an e-money institution license and VASP registration in Ireland, a crypto license in Germany, and various national registrations in other prominent EU member states, Coinbase is strategically positioned to expand its influence in the region. With an average crypto adoption rate of 10% across the EU and 11% of Irish adults already invested in digital assets, the company’s move aligns with the broader trend of growing interest in cryptocurrencies.
This announcement aligns with Coinbase’s Phase II strategy, aptly named ‘Go Broad, Go Deep,’ as the company plans exciting developments in other EU countries throughout 2024. The recent establishment of a regional talent hub in Germany is a testament to Coinbase’s commitment to expanding its international presence.
Choosing Ireland as the EU MiCA hub allows Coinbase to build on its existing operations and scale growth across the 27 European member countries efficiently. The goal is to accelerate efforts to onboard the next billion people into the crypto space while prioritizing asset security and regulatory compliance.
