BaFin Grants Coinbase First Crypto Licence in Germany

The cryptocurrency exchange Coinbase announced recently that the German Federal Financial Supervisory Authority (BaFin) has granted Coinbase Germany GmbH (Coinbase Germany) the first license for crypto custody and trading, under the new licensing regime introduced in January 2020.

According to Coinbase, the licensure of Coinbase Germany marks an exciting and logical next step in its international expansion journey.

The firm will launch in the coming weeks to serve both new and existing German customers more effectively, including by localising its service and increasing product offering. To achieve this, the firm is ramping up its German customer support team .

“Being awarded the licence is the culmination of many months of hard work from the Coinbase team, in close collaboration with the BaFin. We look forward to bringing a best-in-class crypto product offering coupled with a secure, localised experience to our German customers,” said Marcus Hughes, Coinbase’s Managing Director for Europe.

Recently, Fazzaco learned that Coinbase has been granted a permit by the Financial Services Agency of Japan​ to offer trading services on Bitcoin , Bitcoin Cash, Ethereum, Stellar Lumen, and Litecoin.