Coinbase has applied to become a PSAN
As a reminder, the status of Digital Asset Service Provider (PSAN) allows crypto companies such as Coinbase to be able to promote their services in France. This is an almost obligatory step for a company wishing to launch in France.
The news was noted by our colleagues at The Big Whale, who claim that Coinbase would have filed its PSAN file in the fall of 2021. As the processing of the file is quite long, this would mean that the exchange could be about to be granted this sesame.
With its 89 million users, Coinbase is the biggest american cryptocurrency exchange, and it stands out from its competitors by being listed on the stock exchange… Even if the performance of its share has rather tended to leave something to be desired. His arrival as a PSAN is therefore particularly notable.
👉 More info on the Coinbase exchange platform
Why is Coinbase interested in France?
Achieving PSAN status by Coinbase offers two major benefits. On the one hand, it allows him to set foot in Europe. We have noticed in recent months a growing interest from crypto platforms for the old continent, whose inhabitants are turning more and more to cryptocurrencies.
In addition, obtaining a license such as the PSAN status allows you to prepare for the future. European MiCA regulations is about to tumble in Europe, and it provides a provision particularly watched by companies. These will indeed have to obtain a license in at least one of the Member States to claim to be validated at European level. Obtaining PSAN status therefore allows Coinbase to secure its place on the continent.
👉 On the same subject – France: Binance obtains its PSAN registration with the AMF
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