Coinbase, one of the most popular cryptocurrency exchanges, boasts that it is the first company to obtain the first crypto license in Germany.
On the official Coinbase blog it is stated that "The BaFin licensing framework is the first of its kind in the European Union, and Coinbase Germany is the first company to be issued such a licence."
Germany is the only country in the EU that has a complete regulatory framework for companies operating in the field of cryptocurrencies. The country, which according to GDP is the fourth largest economy in the world, is slowly but surely becoming a territory that is and will be sought after by crypto and blockchain companies.
Being awarded the licence is the culmination of many months of hard work from the Coinbase team, in close collaboration with BaFin. We look forward to bringing a best-in-class crypto product offering coupled with a secure, localised experience to our German customers. Marcus Hughes, Coinbase’s Managing Director for Europe
Coinbase Germany GmbH is also working diligently to expand the German customer support team with an aim to launch all services over the coming weeks.