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Coinbase set to acquire Cyprus-based entity with EU licence

Coinbase, a major player in the cryptocurrency exchange market, announced today plans to acquire a Cyprus-based entity that holds an EU MiFID license. The acquisition is currently pending regulatory approval and is projected to be completed within the year 2024. This strategic move is expected to broaden Coinbase's product offerings, enabling it to include derivatives such as futures and options alongside its existing spot trading services. The acquisition aligns with Coinbase's 'Go Broad, Go Deep' strategy and is designed to comply with European Single Market regulations. Coinbase has chosen Ireland as its main European Union base, a decision that follows the acquisition of a French license in December.

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