The post Coinbase acquires BUX’s Cyprus unit, secures key European license appeared on BitcoinEthereumNews.com.

Coinbase, the U.S.-based cryptocurrency exchange, has acquired the Cyprus unit of BUX, now rebranded as Coinbase Financial Services Europe.  The acquisition grants Coinbase a Cyprus Investment Firm license under the Cyprus Securities and Exchange Commission, allowing it to offer contracts for differences across the European Economic Area, according to Finance Magnetes. CFDs are financial instruments that let traders speculate on asset price movements without owning the underlying assets. This means users can bet on whether an asset’s price will rise or fall. With the new license, Coinbase can expand its services to professional and institutional clients in Europe, marking a strategic move to diversify its offerings. Coinbase is expected to become the most valuable brokerage in the world, surpassing Charles Schwab, the $7 trillion asset manager. Coinbase and CFD products While Coinbase has not officially confirmed plans to launch CFD products, its new CySEC license provides the regulatory infrastructure needed to offer them. The license can also be “passported” across EEA member countries, enabling Coinbase to offer financial services under a single regulatory framework, according to Finance Magnetes. According to BUX CEO Yorick Naeff, the company plans to focus on its shares and ETF offerings after selling various business units, including its UK and Cyprus operations. BUX is a Netherlands-based investment platform. Source: https://crypto.news/coinbase-acquires-buxs-cyprus-unit-secures-key-european-license/

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Filed under: News - @ January 3, 2025 3:27 pm