U.S.-based cryptocurrency exchange Coinbase has started making moves towards expanding its operations in 2019 by making its services available in six more European countries.
Coinbase expands operation
The company announced yesterday, December 20 that they have expanded their operations to several European countries and overseas territories, including Lithuania, Iceland, Andorra, Gibraltar, Guernsey and the Isle of Man.
The company is looking to continue its expansion and offers its services beyond the U.S. In their blog post, Coinbase stated that “Over the past six years, we’ve expanded our footprint from the U.S. to 33 countries across the globe, making it easier for more people to buy and sell cryptocurrencies. Today, we’re taking another significant stride toward realizing our mission by announcing the rollout of Coinbase to six additional European markets.”
The exchange added that the new customers in these countries will now be able to make use of Coinbase.com and the mobile apps available. Using these platforms, users will be able to buy and sell cryptocurrencies on the exchange starting yesterday. They are also hopeful that the six countries will soon start using Coinbase Pro and Prime
Coinbase further added that “Next year we will continue expanding rapidly into new regions and adding assets to the Coinbase platform to meet customer demand. Cryptocurrencies are global by their very nature and we believe that they should exist without borders. To realize our mission means making crypto easily available to everyone, irrespective of their geographical location.”
Coinbase is rolling out its services to regions where cryptocurrencies are gaining more demand. These countries are also becoming very popular destinations for cryptocurrency and blockchain-related start-ups. Gibraltar has put in place a local licensing process for crypto-related firms that would make them registered blockchain technology providers. Iceland meanwhile has become a preferred destination for miners due to the cheap electricity and the abundance of renewable energy available there.
Coinbase rolling out new services
Over the past few days, Coinbase has been rolling out services that are aimed at making it easier for people to understand and use cryptocurrencies. On December 19, the company posted on their blog the details of what they claim to be the largest transfer of crypto on record.
The exchange stated last week that they “completed an on-blockchain migration of approximately $5 Billion (as valued the week ending Dec. 7, 2018) of cryptocurrency from Generation Three to Generation Four of our cold storage infrastructure.”
They added that 5 percent of all BTC, 8 percent of all ETH, and 25 percent of all LTC, along with many other assets were moved to new cold storage infrastructure as they term this to be the largest funds migration in the history of cryptocurrencies.
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