US-based cryptocurrency exchange Coinbase plans to expand its operations in Europe. With thisThe exchange is currently undergoing registration in Spain, France, Italy and the Netherlands.
</p>In an interview with Bloomberg, Nana Murugesan, Vice President of International Development and Business Development of Coinbase, said that the exchange plans to go international.
This decision is aimed at finding newcustomers in Europe, where the crypto exchange is already present in countries such as the UK, Ireland, Germany and Switzerland. In the event that registration in new states for the exchange is successful, Coinbase will be represented in eight countries of the European region.
Plan to expand the scope of the companywas made public after the exchange was forced to cut its workforce by more than 1,000 people, mostly in the United States. And all this against the backdrop of the collapse of the crypto market observed in recent months.
In addition, Murugesan said that the crypto exchangerecently hired its first employee in Switzerland. The company's goal is to "make the international segment the most significant part of the business" even during the crypto winter.
“In all these markets we will provideservices to private and institutional clients (…) For us, business expansion is almost an existential priority and will make sure that we can fulfill our mission by expanding the business,” said Nana Murugesan.
The top manager noted that the company expectsdevelopment despite current economic conditions. He recalled that at the time of registration of the exchange in the UK and other European countries in 2015-2016, bitcoin was at the bottom of the market.
“Currently, UK users make up a significant portion of the exchange’s customers,” just like in other European countries where Coinbase is already registered, he noted.
“We came and made our bets. I think that, most likely, then it was a difficult moment. But it was definitely worth it."
Murugesan is very optimistic. He is confident that the exchange will have the strength and resources to cope with the fact that the international investment bank Goldman Sachs recently downgraded Coinbase shares.
</p></p>
