Cryptocurrency exchange Coinbase has received a license from the Bermuda Monetary Authority that allows it to operate a range of activities in the nation. This license, called the Class F License, permits Coinbase to act as a digital asset exchange and derivatives exchange. Reports from Forbes claim that Coinbase is also likely to launch a derivatives exchange in Bermuda in the near future.

This is due to the ‘go broad, go deep’ strategy of Coinbase which seeks to establish regulated entities and local operations in a range of countries. Coinbase’s success in Brazil, Canada, Singapore, Europe and the United Arab Emirates is part of this strategy. With the Bermuda license, Coinbase can hold and offer tokens, custody, trading, and create derivative products. It also allows access to retirement plans for clients and allows for fund storing and trading.

Coinbase is known for their focus on transparency and compliance. Receiving a license from the Bermuda Monetary Authority is a major step for Coinbase to be part of a license expanding financial system, due to the opportunities it can bring to the table. Bermuda is well known for its regulated and compliant exchanges, which makes Coinbase secure. With the cryptocurrency market booming, Coinbase is making sure to stay ahead of the competition. The team has created a platform that provides a gateway for secure financing and development, which makes Coinbase one of the best exchange platforms out there.

The news of Coinbase getting a license in Bermuda is a huge deal for the cryptocurrency exchange, as it will make the exchange more secure and accessible. Additionally, the move is a combination of the ‘go broad, go deep’ campaign, presenting the potential to provide services to a wider audience and make improvements in existing jurisdictions. All in all, this is an important step for Coinbase, as it demonstrates their commitment towards providing a secure and transparent platform for cryptocurrency exchange.



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