Coinbase has obtained its VASP registration1 in the UK. Issued by the FCA, this will allow Coinbase to offer both crypto and fiat in the UK, the largest of Coinbase’s international markets, as the company secures another regulatory permission.
This VASP registration makes Coinbase the largest registered digital assets player in the UK.
Speaking on the announcement, Keith Grose, UK CEO “This is a critical registration to cement our strong position in the UK and unlock our ambitious expansion plans. Our mission is to onboard the next 1 billion people into crypto while prioritising security for customer assets and maintaining the highest standards of compliance. Coinbase’s core thesis is that greater adoption and use of cryptocurrencies will increase economic freedom, and achieving our VASP in the UK furthers this belief.”
The UK is the largest of Coinbase’s international markets, and this registration represents an important chapter in the company’s international expansion strategy. Coinbase is dedicated to partnering with high-bar regulators across jurisdictions to increase economic freedom, and working with policy-makers to promote a pro-tech and innovation agenda. Governments around the world are waking up to the fact that crypto fuels economic prosperity. The UK Government and the FCA are developing welcome regulation for the crypto sector, hopefully joining the growing trend of embracing economic freedom and free markets.
Vice President, EMEA, Daniel Seifert, said: “This game-changing technology is set to bring remarkable rewards, spurring jobs, growth, and investment throughout the UK. We at Coinbase are genuinely excited to be part of the UK’s incredible journey and the amazing opportunities this new era of tech growth offers. We’re already seeing groundbreaking technologies such as stablecoins being used by traditional financial players to revolutionise payments. This is possible thanks to the welcoming environment for the web3 and crypto asset industry created by the UK government.”
2024 was a landmark year for the crypto industry, globally and in the UK. Bitcoin has continued to reach all-time highs, legislative advancements reshaped public perceptions, and the voices of our crypto communities were amplified on an unprecedented scale. Adoption in the UK surged from 10% to 12% year-on-year, with approximately 8.8 million adults now owning crypto. Across Europe, including the UK, 65 million people own crypto – a testament to its emergence as the future of money, driving a fairer, cheaper, faster financial system.