Coinbase has obtained a Virtual Asset Service Provider license, allowing it to provide digital asset services to customers in the UK. This move aims to expand its user base beyond the United States and increase revenue. The license permits Coinbase to trade both digital assets for institutional and retail clients in the UK. Previously, although Coinbase Payments, a subsidiary, offered e-money services in the UK, it was unable to provide crypto products and services. This licensing follows a regulatory investigation concerning unintentional breaches related to the firm's compliance in the region. With its new license, Coinbase plans to launch crypto products and use various marketing channels in the UK. The company has been actively looking to bolster its presence in Europe, as evidenced by its Dublin office opened in 2018 and plans to grow across the continent after the collapse of competitor FTX in late 2022. The overall goal remains to onboard billions of users to crypto globally, according to a company spokesperson.

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