Coinbase Expands Services in Spain

As a direct consequence of the achievement of this milestone, users in Spain will now have access to various services from Coinbase.

These services include the ability to exchange crypto assets for other digital currencies, the ability to purchase or sell cryptocurrencies with fiat currency, and the capacity to store crypto assets in a secure location.

This decision comes at a time when a significant percentage of adult Spaniards (29%) consider cryptocurrencies to be the future of finance and when digital currencies have eclipsed bank transactions to become the second most popular way of payment in Spain.

In addition, the nation has seen a surge in the number of companies that are associated with blockchain, which is a reflection of the growing need for blockchain technology and capabilities.

Not too long ago, news outlets reported on Coinbase’s speculated interest in acquiring FTX Europe, the European component of the bankrupt FTX exchange.

FTX Europe was the subject of this acquisition rumor.

Coinbase’s bigger goal to increase its position in the global crypto derivatives market includes this tactical action, which was implemented as part of that strategy.

This move was made to strengthen Coinbase’s position in the market.

The European Union’s authorities have recently implemented regulatory norms like MiCA, which demonstrates the region’s growing acknowledgment of the potential of cryptocurrencies.

Coinbase’s registration with the Bank of Spain is consistent with the company’s mission to cultivate user confidence while also providing regulatory clarity, innovative products and services, and a variety of other offerings to promote the industry’s long-term growth.