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Coinbase is planning a pivotal acquisition that will allow it to launch crypto derivatives in the EU - TL;DR CNBC

Coinbase is planning a pivotal acquisition that will allow it to launch crypto derivatives in the EU

Publishing timestamp: 2024-01-05 16:49:38


Summary

Coinbase has entered into an agreement to acquire an unnamed holding company that holds a MiFID II license. With this license, Coinbase will be able to offer regulated derivatives, such as futures, in the European Union (EU). Coinbase plans to expand its offering to professional and institutional customers and sees derivatives as a key battleground, accounting for 75% of overall crypto trading volumes. The deal is subject to regulatory approval and is expected to close in 2024. Coinbase aims to adhere to rigorous compliance standards and expand access to its international derivatives offerings. However, Coinbase has a long way to go to compete with larger rivals like Binance in the market for crypto-linked derivatives.


Sentiment: NEUTRAL

Tickers: COIN

Keywords: bitcoinbreaking news: technologymarketscryptocurrencyunited statestechnologycoinbase global incbusiness newsfintechbreaking news: markets

Source: https://www.cnbc.com/2024/01/05/coinbase-to-expand-crypto-derivatives-in-eu-with-license-acquisition-.html


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