Coinbase has taken another step in the expansion of its services within the EU region, with the newly-obtained e-money license from the Central Bank of Ireland.

On October 11, Zeeshan Feroz – head of the UK branch of high-profile, US-based crypto exchange firm Coinbase – reportedly revealed that, the firm has joined the group of industry players to own an e-money license in Ireland.

Coinbase has finished setting up its first center in Dublin, Ireland in October last year, to establish its services in the EU, and with a sub-goal to have a contingency plan in store, should the scenario of UK leaving the EU happens. 

“Europe represents a huge opportunity for Coinbase and today’s announcement is another positive step for us in the region. The approval from the Central Bank of Ireland will now enable us to expand our Irish operation and deliver a better product to customers across some of our fastest-growing markets. It will also allow us to secure passporting for our customers across the EU and EEA.” Feroz remarked. 

Martin Shanahan, CEO of IDA Ireland, reportedly sent his congratulations to Coinbase upon the news of its license. 

“Coinbase’s choice of Dublin for this operation reinforces the strength of Ireland as a destination for financial services companies, providing a consistent, certain, pro-enterprise policy environment for businesses to grow and thrive.” Shanahan further added.