Coinbase Wins VASP Designation From UK's FCA, Acquires Spindl to Prioritize Ethereum Layer-2 Network, Base

Coinbase is one of the most renowned names in the crypto community. This American company primarily deals with digital assets.

Coinbase, a household name in the crypto world, is now one of the largest registered digital asset exchanges in the UK, thanks to a recent Virtual Asset Service Provider (VASP) designation. This critical registration will enable Coinbase to trade in digital assets and fiat services, expanding its reach.

Coinbase, founded by Brian Armstrong and Fred Ehrsam in 2012, has been at the forefront of the cryptocurrency exchange landscape. Now, with this VASP designation, Coinbase is set to unlock its ambitious expansion plans in the UK.

“This is a critical registration to cement our strong position in the UK and unlock our ambitious expansion plans,” Coinbase said in an official statement. This registration is not just another registration. It is a step in the right direction for the company’s international strategies.

“Our mission is to onboard the next 1 billion people into crypto while prioritizing security for customer assets and maintaining the highest standards of compliance. Coinbase’s core thesis is that greater adoption and use of cryptocurrencies will increase economic freedom, and achieving our VASP in the UK furthers this belief,” the press release adds.

This designation is a critical step for Coinbase as an organization. But that's not all. Coinbase also recently onboarded Spindl as a partner to prioritize the Ethereum layer-2 network, Base.

“Coinbase has acquired Spindl, an onchain ads and attribution platform (re)building the ad tech stack onchain, to improve the onchain discovery problem for onchain builders,” the company said in a statement.

This could be another revolutionary step, as creator of CoinBase, Jesse Pollak, states. According to Pollak, this acquisition and subsequent regulatory win in the UK make the company better equipped to deal with the market.

Moreover, Shan Agarwal claims that this could change development processes and allow developers to increase engagement.

“Spindl’s built the first truly robust onchain advertising protocol that helps builders find their audience and users find more compelling things to do onchain. Win-win,” Shan said in a public post.

Overall, the way things have lined up, Coinbase could easily get ahead of its competitors in a landslide move. Then again, the world of crypto is a volatile place. Things can change at a moment’s notice.

As a result, while things have lined up till now, who knows what is there for the future? In summation, Coinbase is currently riding the waves of success, and things look optimistic for this American-based cryptocurrency exchange.