Coinbase and Bitpanda reveal EU partnership Coinbase and Bitpanda reveal EU partnership
The partnership is part of Coinbase's push to expand outside of the U.S.
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Updated: May. 26, 2023 at 1:29 am UTC
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Cryptocurrency exchange Coinbase has partnered with the Austrian fintech firm Bitpanda, the latter company said on May 25.
Bitpanda and Coinbase will work together
The partnership will allow Coinbase to offer institutional trading services outside of the United States. It will also see Bitpanda add Coinbase as a liquidity provider.
The announcement notes that Bitpanda offers KYC-as-a-service. This will allow institutional clients to go to market faster by integrating BitPanda’s existing services and existing regulatory licenses instead of seeking out new approvals.
Guillaume Chatain, Coinbase’s Head of Institutional Sales EMEA & APAC, commented on the partnership’s global aspects. He said that Coinbase believes that crypto and blockchain can “increase economic freedom and opportunities around the world.”
Coinbase also said that the partnership is part of its “go broad, go deep” effort through which the company plans to expand outside of the United States.
Coinbase’s other EU efforts
Coinbase CEO Brian Armstrong suggested in April that his company could relocate to the U.K. due to regulatory difficulties in the United States. He later said that the company will always have a U.S. presence.
Coinbase launched a new EU-focused platform on May 2 called Coinbase International Exchange. That service, like the new partnership, is aimed solely at institutional clients.
More broadly, the EU is introducing new regulations called MiCA. This could provide a more manageable operating framework for Coinbase and other crypto firms.
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Mike Dalton
Before transitioning to crypto writing in 2018, Mike studied library and information sciences. Currently, he resides on Canada's West Coast.
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Coinbase is a digital currency exchange and wallet service that allows individuals to buy, sell, and store digital currencies, such as Bitcoin, Ethereum, and Litecoin.
Brian Armstrong, co-founder and CEO of Coinbase, stands at the forefront of the digital currency revolution.