Coinbase Gets AML License from Spanish Central Bank

The well-known crypto exchange Coinbase has attained a landmark in its endeavours for international expansion. The platform has effectively obtained a license from the Bank of Spain to play the role of a crypto custodian wallet providing firm and exchange. With the AML license, the platform is capable of facilitating the Spanish institutional and retail users.

Central Bank of Spain Grants AML License to Coinbase for Services Related to Crypto Custodian Wallets and Exchange

As a result of this, these consumers can enjoy the entire range of crypto services that the platform provides. In the meantime, the company can offer the respective services while complying with the country’s legal agenda. The latest achievement of Coinbase in Spain contributes to the crypto exchange’s increasing list of international successes.

Also Read: Coinbase Intends To Buy FTX Europe

Throughout the previous year, the firm has received Virtual Asset Service Provider (VASP) registrations across several countries. They take into account the Netherlands, Ireland, and Italy. In addition to this, the platform has secured in-principal approval apart from starting operations in Canada, Brazil, and Singapore. This explains the country’s devotion to worldwide expansion and regulatory compliance.

The Crypto Exchange Pays Great Attention to Fulfilling Regional Requirements and Increasing Local Collaborations

In Spain as well as the rest of the markets, the crypto exchange provides considerable importance to licenses. Moreover, it also focuses on fulfilling regional requirements, forging local collaborations, as well as fortifying its local presence. Spanish public is showing more and more interest in crypto assets. Up to twenty-nine percent of adults say that crypto is the future of the financial industry.

Also Read: Coinbase Prime Introduces a Web3 Wallet for Consumers

Furthermore, the cryptocurrency has even outcompeted conventional bank transactions as the 2nd most famous payment method in the country. Bitnovo surveyed in this respect and pointed out that nearly 60.7% of Spanish place crypto among long-term investments. Along with that, 35.7% are interested in utilizing these assets for payment purposes.