- Coinbase has become the largest UK crypto exchange, offering more services in the UK.
- The cryptocurrency exchange strengthens its position within the UK crypto market.
Coinbase announced on February 3, 2025, that it had received approval from the UK’s Financial Conduct Authority (FCA) as an accredited Virtual Asset Services Provider (VASP).
The FCA’s decision solidifies the UK’s growth to attain the global crypto hub title.
Faryar Shirzad, Coinbase’s chief policy officer, expressed his excitement about the exchange’s new developments in the UK crypto market on his X account. He said, “It’s an exciting time to build, and it’s gratifying to have the UK take concrete steps to grow the crypto ecosystem at home.”
FCA is an entity that is in charge of overseeing the financial services sector in the UK. Established on April 1, 2013, this public body took control of pertinent regulations from the Financial Services Authority (FSA).
See Related: UK Government Adopts Stablecoins As Legal Tender
What It Means For Coinbase
The FCA approval allows Coinbase to offer crypto-to-fiat services to retail customers and large-scale investors within the UK, which has become its largest market outside the US.
According to Keith Grose, the CEO of Coinbase UK, the approval opened new channels for Coinbase to introduce creative services to its customers in the UK. The exchange may introduce services such as staking and stablecoin services.
