- Coinbase has gained DNB registration approval.
- The exchange can now offer its full suite of products to its Dutch customers.
- The Netherlands is an addition to the 40 European countries Coinbase currently serves customers in.
Coinbase has announced that they have officially registered with the Dutch Central Bank (De Nederlandsche Bank or DNB). It is the first major global cryptocurrency exchange that has gained regulatory approval from DNB.
Registering successfully as a crypto service provider with the DNB has enabled Coinbase to offer its complete suite of retail, institutional, and ecosystem products and services to its Dutch customers.
In their announcement blog post, Coinbase has shared that they consider this registration a very significant milestone in Coinbase’s continued international expansion.
In addition, the crypto exchange has also shared its view on the regulation approval win. Coinbase believes industry regulations enable crypto growth, allowing distinct ground rules for an environment conducive to innovations and development, as well as, strengthening both public and policy makers’ trust in the industry.
Coinbase Vice President, Internal and Business Development, Nana Murugesan, has expressed that Coinbase aims to be the world’s most trusted and secure platform and to achieve collaboration with governments, policymakers, and regulators. He further added:
Coinbase prides itself on being a compliance-led business. The Netherlands is a critical international market for crypto, and I am really excited for Coinbase to bring the potential of the crypto economy to the market here.
Coinbase currently delivers crypto products and services across 40 European countries with dedicated hubs based out in Ireland, the UK, and Germany. However, the platform anticipates further expansion in other major markets through registrations and license applications in adherence to local laws.