Coinbase today announced that it has chosen to locate its EU MiCA hub in Ireland.

Coinbase commented:

“Ireland has a supportive political environment for FinTech companies, and is home to a globally respected regulator. Due to our existing operational structure in Ireland, we have access to deep talent pools with significant expertise in both financial services and innovative new technologies. Ireland is a leading jurisdiction in this space, and we look forward to working with regulators in Ireland, Germany and other key EU member states, to bring this industry to its full potential with the advent of MiCA”.

Currently, Coinbase has an e-money institution license and VASP registration in Ireland; a crypto license in Germany; and a number of national registrations in other large member states across the EU (including Italy, the Netherlands and Spain). Average crypto adoption across the region stands at 10% and, according to the European Commission’s Eurobarometer, currently 11% of Irish adults are invested in digital assets.

This announcement is another move in Phase II of Coinbase’s ‘Go Broad, Go Deep’ international market strategy, for which there are a number of exciting plans afoot in other EU countries across 2024, including the recent announcement about Coinbase’s regional talent hub in Germany.

The recent adoption of MiCA by European Union policymakers also represents a pivotal moment for cryptocurrencies in the region. The regulatory clarity MiCA provides to the industry is hugely welcome, and shows that the region is recognising the potential that emerging technology can provide.