Coinbase Secures Registered VASP from Dutch Central Bank

Nasdaq-listed digital currency trading giant Coinbase Global Inc has announced its official registration as a Virtual Asset Service Provider (VASP) with the Dutch Central Bank (De Nederlandsche Bank — DNB).

The exchange is currently listed in the DNB’s register as a crypto service provider and will ply its trade in compliance with all the country's relevant laws. According to the trading platform, the license will enable it to offer its full suite of crypto products that will make it serve both its retail and institutional clients in the country. 

The exchange said it welcomes functional regulations and it’s happy to operate in the Netherlands as it can build products through well-guided innovations.

“As part of Coinbase’s ambition to be the world’s most trusted and secure crypto platform, we have taken strides to work collaboratively with government, policymakers, and regulators to shape the future in a responsible way. 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,” said Nana Murugesan, Vice President, International, and Business Development at Coinbase.

Besides being one of the oldest and the few publicly listed crypto trading outfits around, Coinbase Exchange is setting the pace in terms of aggressive entry into new markets, particularly in Europe. 

Back in July, the digital currency trading platform secured the license to operate in Italy from the  Organismo Agenti e Mediatori (OAM). While the license grants access to entire countries in the European Union, Coinbase has shown it prefers a more customized local regulation embrace. 

The move from Coinbase to explore the Italian market is also similar to those from competitors like Binance exchange and Crypto.com. However, while Coinbase has secured the license from the DNB, Binance’s application is still under consideration after the firm was fined €3.3 million back in July for operating in the country without prior registration.