Coinbase Establishes EU-Wide MiCA Crypto Hub in Luxembourg After Ripple

Coinbase has established its EU crypto hub in Luxembourg after obtaining a Markets in Crypto Assets (MiCA) license from the country’s financial supervisory authority. The license allows the US-based exchange to offer its full suite of crypto products and services to over 450 million people across all 27 EU member states.

Coinbase selected Luxembourg for its strategic role in Europe’s financial ecosystem and its long-standing commitment to innovation and regulatory clarity. The company noted Luxembourg’s active approach to blockchain and crypto assets, including the passage of four blockchain-related laws and government policy supporting distributed ledger technologies.

‘By choosing Luxembourg, we’re positioning ourselves in a jurisdiction that understands the needs of the crypto industry and excels in regulatory clarity,’ Coinbase said in a statement.

Coinbase chief policy officer Faryar Shirzad said, ‘Luxembourg has established itself as the EU’s leading hub for institutional crypto and tokenization. The country has long taken a thoughtful, innovation-oriented approach to blockchain technology and to digital assets.’

The announcement follows Ripple’s receipt of a preliminary crypto license in Luxembourg. Ripple’s Crypto Asset Service Provider license and existing Electronic Money Institution license enable it to offer expanded payments, stablecoin (RLUSD) services, and broader crypto activities across the EU.

The crypto community views these developments as a strong signal of growing crypto regulation in Europe. With the MiCA transition deadline approaching on July 1, regulated crypto firms are expected to capture market share.

Source: https://coingape.com/coinbase-establishes-eu-wide-mica-crypto-hub-in-luxembourg-after-ripple/