As part of its efforts to expand internationally, Coinbase( COIN ) has been granted a license to provide its services in Bermuda, the company announced in an online post on Wednesday.
The Bermuda Monetary Authority ( BMA) granted the U.S. cryptocurrency exchange a Class F license, enabling it to conduct business in that country's's digital asset exchange market.
The information was released two years after Coinbase CEO Brian Armstrong said the American trade would consider leaving the country if clear crypto rules wasn't implemented. The trade reportedly had discussions with institutional people about establishing a cryptocurrency trading app abroad in March.
What products Coinbase may provide in Bermuda is currently unknown.
Nothing to announce today regarding our ambitious plans to provide services through this permit, despite our excitement to associate with the BMA and to have systematically obtained the Class F License in this high-bar regulatory control, according to a voice to CoinDesk.
Coinbase noted, among other things, doubling down on its investments in the American market in its forum post as part of what the payment refers to as its eight-week international rise drive. Lucas Matheson was recently appointed as the company's's country director, and the two organizations recently signed a Pre-Registration Undertaking( PRU ), which is regarded as paving the way for the establishment of an exchange in Canada.
Stephen Alpher edited the text.
