Coinbase and Kraken have recently obtained essential regulatory licenses to broaden their operations in the UK and the EU. On February 3, 2025, Coinbase announced securing a Virtual Asset Service Provider (VASP) registration in the UK, making it the largest registered digital asset provider in the country. The Financial Conduct Authority (FCA) issues VASP registrations, and Coinbase highlighted that this is a significant milestone in its international expansion strategy.

“Coinbase is now the UK’s largest VASP.” “This registration represents an important chapter in our international expansion strategy.” — Coinbase on Twitter

Just recently, Coinbase also received approval from Argentina’s National Securities Commission (CNV), allowing it to introduce local payment methods in Argentine pesos and expand its services in the region.

Binance Pay Partners With xMoney To Enhance Crypto Payments Framework In Europe

Binance has partnered with xMoney, targeting improvements in cryptocurrency accessibility throughout Europe. This partnership aims to simplify payments across various sectors, enabling more than 20,000 businesses within xMoney’s network to accept cryptocurrencies directly.

“The partnership simplifies payments for luxury goods, travel, gaming, and even public services for Binance Pay users.” — Binance

Furthermore, Shannon Kurtas from Kraken emphasized the importance of expanding operations in Europe by securing the MiFID license, showcasing their commitment to providing a regulated environment for crypto traders and investors.

Key Takeaways

• Kraken’s MiFID license will allow more European users to explore derivatives in crypto markets, while Coinbase’s VASP registration ensures secure access to exchange and custody services in the UK.

Explore more about Coinbase’s expansion in Argentina. Read about Binance’s challenges in France. Learn about Kraken’s EU MiFID license acquisition.