More Crypto Custodial Services in Europe
U.S.-based cryptocurrency exchange Coinbase is extending its global reach according to an announcement on its official blog. This week, the popular exchange launched Coinbase Custody International Ltd., an extension of its already established crypto custody services in the U.S.
Coinbase Custody has been providing its services to European clients since 2018, and the newly established arm of Coinbase’s custodial services will be located in Dublin, Ireland, providing more “localized” services to offshore clients.
“While Coinbase Custody has served European-based clients in the UK, Switzerland, Germany, Finland, the Netherlands and more since 2018, our dedicated presence in Europe will allow us to offer these services in a completely localized way, with local staff, localized SLAs and in compliance with local laws.” – Coinbase Custody International Blog Announcement
Coinbase has added additional cryptocurrencies to its custodial services in recent months, such as Tezos (XTZ) and MakerDAO, while also adding the ability for its users to passively monetize holdings through staking.
“If you delegate to a trusted node (also known as a validator), you can share in the rewards that the validator receives for mining blocks.” – Coinbase Custody Tezos, MakerDAO Announcement
Coinbase’s retail and professional trading platforms have integrated new features and more supported digital assets over the years since the 2017 bull market.
Demand for Crypto Custodial Services Increasing
Cryptocurrencies are becoming an established asset class that investors are taking more seriously by each passing day. Europe is Coinbase’s fastest-growing geographical region for business, inspiring the launch of its international services and highlighting a shift towards digital assets by financial institutions.
Coinbase’s growth is a healthy sign of the underlying development of the digital asset sector. Other leading exchanges, such as Binance, are also expanding globally, and more streamlined methods to invest and use cryptocurrencies are being built and emerging during the bear market.
This post is for educational purposes. All information used is referenced accordingly. This is not investment advice; please always do thorough research and only invest what you are willing to lose, especially in times of uncertainty.