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News

Coinbase’s Bold Global Expansion Strategy Unveiled: Focused On Key Crypto Markets

September 8, 2023 - Around 2 mins mins to read

Key Points:

  • Coinbase expands to key markets with clear crypto rules, including the EU and UK.
  • The plan involves licenses, partnerships, and global engagement.
  • The exchange seeks global standards via the G20, with Brazil in focus.
Leading cryptocurrency exchange Coinbase has unveiled its “Phase II” international expansion plan, marking a significant development in the cryptocurrency space.
Coinbase's Bold Global Expansion Strategy Unveiled: Focused On Key Crypto Markets
Coinbase's Bold Global Expansion Strategy Unveiled: Focused On Key Crypto Markets 2

The company’s near-term priority markets for expansion include the European Union, the United Kingdom, Canada, Brazil, Singapore, and Australia. Coinbase’s focus on these regions is driven by their comparatively clearer cryptocurrency regulations.

In a blog post by Coinbase’s vice presidents for international business and international policy, Nana Murugesan and Tom Duff Gordon, it was emphasized that these countries are enacting clear rules. As part of its expansion strategy, the exchange plans to acquire licenses and strengthen its operations in these markets.

Coinbase’s “Phase II” expansion plan also includes a commitment to expand its services globally, forge partnerships with banks and payment providers, ensure compliance in all operating countries, and actively engage with the community.

The company sees these actions as crucial to updating the financial system and gaining user trust.

While several countries are progressing in terms of cryptocurrency regulation, the United States has taken an enforcement-focused approach, potentially jeopardizing its global influence in the financial sector.

Coinbase has highlighted the risks associated with this approach, including the potential loss of developer jobs and blockchain positions.

To address these issues, Coinbase intends to engage with the G20 to establish global cryptocurrency standards and will monitor each country’s progress in cryptocurrency regulation through a scorecard. The company is notably focusing its G20 lobbying efforts on Brazil, which is set to assume the G20 chair in 2024.

This expansion announcement from Coinbase aligns with the increasing regulatory clarity seen in 83% of major financial hubs and G20 member nations, reflecting the growing global significance of the cryptocurrency industry.

DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

Australia

Brazil

Canada

Coinbase

European Union

G20

singapore

United Kingdom

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Author

Harold

With a passion for untangling the complexities of the financial world, I've spent over four years in financial journalism, covering everything from traditional equities to the cutting edge of venture capital. "The financial markets are a fascinating puzzle," I often say, "and I love helping people make sense of them." That's what drives me to bring clear and insightful financial journalism to the readers of Coincu.
News

Coinbase’s Bold Global Expansion Strategy Unveiled: Focused On Key Crypto Markets

Key Points:

  • Coinbase expands to key markets with clear crypto rules, including the EU and UK.
  • The plan involves licenses, partnerships, and global engagement.
  • The exchange seeks global standards via the G20, with Brazil in focus.
Leading cryptocurrency exchange Coinbase has unveiled its “Phase II” international expansion plan, marking a significant development in the cryptocurrency space.
Coinbase's Bold Global Expansion Strategy Unveiled: Focused On Key Crypto Markets
Coinbase's Bold Global Expansion Strategy Unveiled: Focused On Key Crypto Markets 4

The company’s near-term priority markets for expansion include the European Union, the United Kingdom, Canada, Brazil, Singapore, and Australia. Coinbase’s focus on these regions is driven by their comparatively clearer cryptocurrency regulations.

In a blog post by Coinbase’s vice presidents for international business and international policy, Nana Murugesan and Tom Duff Gordon, it was emphasized that these countries are enacting clear rules. As part of its expansion strategy, the exchange plans to acquire licenses and strengthen its operations in these markets.

Coinbase’s “Phase II” expansion plan also includes a commitment to expand its services globally, forge partnerships with banks and payment providers, ensure compliance in all operating countries, and actively engage with the community.

The company sees these actions as crucial to updating the financial system and gaining user trust.

While several countries are progressing in terms of cryptocurrency regulation, the United States has taken an enforcement-focused approach, potentially jeopardizing its global influence in the financial sector.

Coinbase has highlighted the risks associated with this approach, including the potential loss of developer jobs and blockchain positions.

To address these issues, Coinbase intends to engage with the G20 to establish global cryptocurrency standards and will monitor each country’s progress in cryptocurrency regulation through a scorecard. The company is notably focusing its G20 lobbying efforts on Brazil, which is set to assume the G20 chair in 2024.

This expansion announcement from Coinbase aligns with the increasing regulatory clarity seen in 83% of major financial hubs and G20 member nations, reflecting the growing global significance of the cryptocurrency industry.

DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

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