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Bitcoin:
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BTC Dominance:
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Market Cap:
$3.15 T

Coinbase Receives FCA Approval in the UK: Aims to Expand to Europe and Asia

Coinbase

US-based cryptocurrency exchange Coinbase has been approved as a registered virtual asset service provider (VASP) by the UK Financial Conduct Authority (FCA). With this development, the UK has become the largest Coinbase market outside the US.

Thanks to the FCA approval, Coinbase will be able to serve both retail and institutional customers in the UK and provide crypto-fiat conversion transactions. With this license, Coinbase strengthened its position as the largest regulated crypto exchange in the country.

UK’s Crypto Goals and Coinbase’s European Plans

As the UK takes steps towards becoming a global crypto hub, the FCA plans to establish a full crypto regulatory framework by 2026. Crypto adoption in the country is growing rapidly, with 12% of British adults owning digital assets, up 2% from 2023, according to research published by the FCA in November 2024. The average crypto asset amount also increased from £1,595 ($1,964) to £1,842 ($2,268).

Coinbase is already licensed in European countries such as Ireland and Germany and operates as a crypto service provider in the Netherlands and Italy. While the FCA approval strengthens the company’s expansion strategy in Europe, Coinbase also appears to be turning its sights on the Asian market.

Coinbase Plans to Expand to Southeast Asia

Coinbase CEO Brian Armstrong met with Philippines Finance Minister Ralph Recto at the World Economic Forum in Davos to discuss its strategy for entering the Southeast Asia region. The Philippines Ministry of Finance announced that Coinbase is considering investing in the country.

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The company has supported local stablecoin projects in the Philippines and Thailand while conducting research on how crypto can improve financial systems in these regions. Coinbase also began operating in Singapore in October 2023, receiving regulatory approval.

Coinbase’s successful completion of the regulatory compliance process in the UK and Europe signals that the company may accelerate its expansion plans into Southeast Asia.

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