Coinbase, one of the world’s biggest crypto exchanges, is in the crypto news today after they announced the opening of their new office in Dublin, Ireland. Their plan was announced on their website yesterday October 15.
This decision comes as a contingency plan for when the United Kingdom leaves the E.U after Brexit and because of the needs of the exchange to expand its operations in Europe. London will remain the main office of Coinbase in Europe but the new Dublin team will tackle many new business operations.
The Irish Minister for Financial Services and Insurance Michael D’arcy stated:
‘’ I am delighted that Coinbase is opening an office in Dublin. This decision highlights the competitive offering and attractiveness of Ireland for financial services.’’
The U.K CEO of Coinbase when talking to the Guardian said that the company wants to capitalize through the talent pool that is available in Ireland. He also said that this is a plan B if the U.K decides to leave the EU by saying:
‘’It is also a plan B for Brexit. As we plan for all eventualities, it’s important that we continue servicing our customers across Europe, and Ireland would be our preferred choice there if it comes to it.’’
On this same subject, the British finance minister expressed his hope that the blockchain technology might help to ensure a seamless post-Brexit trade between the EU and the UK.
There was also a study called ‘’Blockchain for Brexit’’ where hundreds of analysis are provided on how the blockchain can improve and help the post-Brexit trade between the UK and the EU.
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