Coinbase is one of the world’s biggest cryptocurrency exchanges in this day and age. To maintain the momentum, the firm is looking to expand its presence. Ireland appears to make for an appealing market in this regard as the exchange is in the process of setting up a new office in Dublin.
Ireland and Cryptocurrency Ventures
Over the years, Dublin has successfully become one of the European fintech hotspots. A lot of companies have set up offices in this part of Ireland. It is understandable, then, that cryptocurrency service providers are exploring very similar options in this regard. Coinbase is the latest company mulling a new office in Ireland’s capital city of Dublin. This is another step toward the company’s global expansion plans.
A final decision regarding Ireland has not yet been made, although Coinbase officials confirm that the company is examining the local market. Acquiring the necessary knowledge is pertinent prior to making any major decisions. With the help of IDA Ireland, Coinbase will be able to gauge the market and regulatory conditions accordingly. Ireland has, just like most other countries, no active Bitcoin regulation at this time.
It appears the final decision will be rendered soon. Coinbase is in the process of hiring staff for key positions pertaining to this new office. Jobs to be filled include customer support, compliance officer, and so forth. Additionally, the popular exchange has a local subsidiary, which was registered in July of 2018. The United Kingdom is an important market for this company.
Coinbase Continues to Expand
This news caps off a list of UK-oriented developments for the Coinbase exchange. Ever since signing a deal with Barclays, the company has been working on improving its market presence. Becoming a part of the Faster Payments scheme is a major step forward for any cryptocurrency trading platform.
Coinbase has shown a strong desire to expand on a global scale. Since its successful Series D funding in 2017, expansion has been the top priority for the firm. Thanks to key acquisitions across numerous industries, the exchange is paving the way for a better future. Adding new local headquarters for local support makes a lot of sense in this regard.
This is another example of how the cryptocurrency industry continues to grow. Consumers show an increasing appetite for Bitcoin and various altcoins. This creates new opportunities for firms to aggressively expand on a global scale if their finances allow it. Coinbase is firing on all cylinders in this regard. Other companies may begin exploring similar options in the future.
How do you feel about Coinbase’s likely expansion into Ireland? What’s next for the exchange? Let us know in the comments below.
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