Crypto exchange Coinbase has secured a crucial license for its European expansion by acquiring the Cyprus unit of European brokerage firm Bux.
The acquisition, completed in August, grants Coinbase a Markets in Financial Instruments Directive II (MiFID II) license, according to an updated blog post from the company.
The deal was first reported by Finance Magnates, which also highlighted that Coinbase rebranded the entity as Coinbase Financial Services Europe in October.
“Adding this license to our international portfolio will further support the growing demand for our derivatives offerings and help us capture a larger share of the ~75% of the global crypto market dominated by derivatives,” the post stated.
