Coinbase has received approval to operate as a regulated crypto exchange in the UK. The country’s Financial Conduct Authority (FCA) has granted the firm a Virtual Asset Service Provider (VASP) licence. The US-based exchange announced the development on Monday, stating that it would be able to offer additional services in the UK. As the country ramps up efforts to finalise legislation desgined to oversee the crypto sector, these firms appear to be eyeing the UK as a lucrative location to expand their crypto services.
Coinbase said that this licence will now allow it to offer a ‘better’ suite of crypto products and services to retail and institutional investors in the UK. The exchange says it can now include fiat-to-crypto service offerings as part of its business expansion.
With the VASP licence, Coinbase claims that it has become the largest player in the digital assets arena in the British nation.
