The Cryptocurrency exchange platform “Coinbase” has announced that it will be attempting to further expand its presence in European markets despite the recent downturn in the markets.
In a recent blog post by the company, they announced that Coinbase aims to significantly strengthen its presence in the European market. The countries said to be included in this strengthening of presence are France, Spain, Italy, and the Netherlands. Coinbase aims to launch its suite of retail, institutional, and developer products.
- Coinbase has stated that this is part of the recently announced ‘two-pronged growth strategy’ that aims to share how Coinbase will grow its presence internationally by “going broad and going deep” with its products, infrastructure, and services.
Coinbase has cited how they entered the U.K market in the midst of the bear market in 2015 and experienced great growth attempting to justify the further strengthening during the bear market, “While markets will always be volatile, we believe the future is bright”.
This move for expansion comes after Coinbase unexpectedly laid off 18% of its employees in preparation for the ‘Crypto winter”.