Cryptocurrency Exchange

Coinbase marks milestones, enters Spanish market

Coinbase has been extremely excited about obtaining an AML certification in September 2023, issued by the Bank of Spain. This is being viewed as an absolute landmark occurrence for the company with regards to the increasing inclination towards cryptocurrencies.

The team members of Coinbase will have their presence at the European Blockchain Convention being organized in Barcelona for two days. In order to commemorate the latest receipt of the certification and the company’s initial hire in Spain, they will be organizing an exclusive party at the convention venue.

All of this is an integral part of their game plan for targeting the global arena. The previous week witnessed the declaration of Ireland as their MiCA entity destination. Before that, the company announced that Elke Karskens was appointed Country Director for Benelux and the Nordics. The company is now on its way to achieving its goal of spreading its overall footprint.

With the help of the certification received by Coinbase from the Bank of Spain, it will be easier for the company to make cryptocurrencies available to all. The users in Spain will be provided with multiple crypto services, such as asset control,  legal tender trading, and asset-to-asset trading, all closely adhering to the regulations laid down.

Spain is an absolutely viable option for Coinbase, as there is an increased demand for cryptocurrencies. As a matter of fact, cryptocurrencies have left bank transfers behind and attained the second position with regards to payment options in Spain. According to a Bitnovo study, over 60% of Spaniards prefer investing in cryptocurrencies over the long term. At the same time, over 35% use them to carry out transactions. Even in the case of savings, 53% of Spaniards leaned towards cryptocurrencies, with 42% using them for trading and another 10% for settlements. All of this only adds to the fact that Spain is indeed very conducive to Coinbase.

Erica Lee

Erica is a finance professional who has over a decade of experience in the finance sector as a management consultant. After years of reporting on forex, stock markets, and finance, she now contributes her strong financial skills with the CoinNewsSpan team. Since 2014, she has been deeply involved in the blockchain and cryptocurrency space. She believes that blockchain technology has tremendous potential to make our lives better.

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