Coinbase has obtained its UK VASP registration from the FCA, allowing it to offer crypto and fiat services in its largest international market.
On February 3, Coinbase (Nasdaq: COIN) reported that it has received registration as a virtual asset service provider (VASP) from the UK’s Financial Conduct Authority (FCA). This approval lets the exchange provide both cryptocurrency and regular money services in its biggest foreign market.
Coinbase highlighted that this achievement boosts its ability to follow regulations and sets the stage for more growth. The company showed its dedication to cooperating with regulators to support technology, seeing the UK as an important center for financial innovation.
It highlighted how stablecoins are becoming more important in traditional banking, showing how cryptocurrency affects payments.
As part of its global plan, Coinbase wants to bring a billion people into cryptocurrency while keeping customer funds very secure. The exchange commended the UK government and the FCA for creating rules that help promote economic growth and technological progress.
