US based crypto exchange Coinbase (NASDAQ:COIN) has announced that the company has obtained its VASP registration 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. Coinbase said that the UK Government and the FCA are developing welcome regulation for the crypto sector, hopefully joining the growing trend of countries embracing economic freedom and free markets. Governments around the world are waking up to the fact that crypto fuels economic prosperity. Coinbase believes that crypto is the most important technology that can generate growth in the world, and the UK is poised to benefit from this.

Coinbase UK Senior Country Director Keith Grose posted the following on social media about the company’s UK ambitions.

Coinbase has officially obtained our VASP registration in the UK!

With this registration from the FCA, Coinbase is now the largest registered digital assets player in the country, and can offer both crypto and fiat services, unlocking new opportunities for millions of people.

Our mission is to increase economic freedom globally, onboarding the next 1 billion people into crypto – and this registration furthers this mission.

At a time when appetite for crypto has never been greater, this progress highlights the UK’s potential to lead the global charge in shaping the future of blockchain technology and economic freedom.

Crypto adoption in the UK is growing, with 8.8 million adults now owning crypto – a result of the country’s thriving web3 ecosystem, builders and supportive regulation by the UK government.

The UK has the potential to stand among the global leaders in the cryptoecosystem. The direction is clear, and I’m excited to continue building with the Coinbase team to make it happen!  💪

Coinbase added that this is a critical registration to cement its strong position in the UK and to unlock ambitious expansion plans. The company’s 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.

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 policymakers to promote a pro-tech and innovation agenda.

This game-changing technology is set to bring remarkable rewards, spurring jobs, growth, and investment throughout the UK. Coinbase said it is genuinely excited to be part of the UK’s incredible journey and the amazing opportunities this new era offers. The company said it is already seeing groundbreaking technologies such as stablecoins being used by traditional financial players to revolutionise payments. Finally, Coinbase is pleased to see the UK Government recognise the potential of this industry and the way in which it can contribute to their pro-growth and innovation agenda.