Crypto Exchange Coinbase has won an EU markets in Crypto Assets License (Mica) from Luxembourg, the company said in a statement Friday.
The exchange, which is the fifth largest crypto exchange after volume, according to CoingeCko, will now be able to offer services in the 30 nations in the European economic area.
It joins other major exchanges that have secured the MICA license. BYBIT, the second largest exchange, secured its Mica license from Austria in May, while OKX and Crypto.com secured their mica licenses from Malta.
Although the EU license license gives businesses access to all nations in the European Union Plus Island, Liechtenstein and Norway, countries in the block have still struggled to attract large cryptic companies.
“Luxembourg has always been a key player in Europe’s economic ecosystem, and we are pleased to share Coinbase officially establishing its European crypto hub in this dynamic country, under the markets of Crypto Asets Regulatory Framework (Mica),” Coinbase said in his statement.
Luxembourg has passed four blockchain-related policies through national legislature, Coinbase said.
Update (June 20, 15:18 UTC): Adds more context to the third, fourth and fifth paragraphs.
