The cryptocurrency exchange Coinbase has received approval from the UK's Financial Conduct Authority (FCA) to provide virtual asset services, solidifying its status as the country's largest registered crypto exchange.
FCA Approval for Coinbase
On February 3, Coinbase announced they had received FCA approval, allowing them to serve both retail and institutional clients. The UK is now Coinbase's largest market outside the US, where it is headquartered.
Impact on UK Crypto Market
This marks the first crypto company added to the FCA's register in 2025, following GSR Markets in late 2024. A November 2024 FCA survey found increased crypto adoption in the UK, with 12% of adults holding digital assets.
Coinbase International Expansion
Coinbase is expanding across Europe, adding the UK to its licensing portfolio, which already includes Ireland and Germany. The company is also exploring expansion opportunities in Southeast Asia.
The FCA approval strengthens Coinbase’s position as a leader in the UK crypto market and opens new avenues for the company's international expansion.
