Nobody is sure what will happen with Brexit and how it will impact the crypto market. In order to protect itself from any negative impacts of the divorce between the UK and Europe, Coinbase has opened a new office in Dublin. Dublin sits in the Republic of Ireland – the portion of Ireland that will remain in Europe after Brexit – and is quickly becoming a popular destination for companies looking to mitigate any Brexit risks. In addition to being the home of Guinness, the Republic of Ireland has some favorable tax laws – a double win for Coinbase it seems.
Tapping into the Irish Talent Pool
In a nod to the talented Irish, Zeeshan Feroz – Coinbase UK CEO – said that Coinbase is opening the Dublin office to capitalize on the talent pool available in Ireland. A number of top tech companies maintain an office in Ireland, and Coinbase looks set to pinch players from the competition. Other countries that are in Europe and are crypto friendly – such as Malta – are currently facing a huge shortage of developers specializing in crypto and blockchain – meaning they have to hire from overseas and relocate them at a higher cost. This makes Ireland the perfect home for Coinbase’s new European operations.
Coinbase Stepping up its Game
In the past few weeks, Coinbase has announced a whole range of new features. The most anticipated update, however, is its new listing process. Under the new process, companies can approach Coinbase and ask to be listed. The fees have also been slashed, meaning that projects no longer have to select a couple of exchanges to get listed on due to available funds. This is great news for the global crypto markets and could be a signal that a few fringe cryptos could soon be added to the popular platform.
Sterling Trading Pairs
Coinbase has added four new GBP altcoin trading pairs to its platform to please its UK audience. Previously British crypto traders had to convert their GBP into EUR or USD in order to gain access to crypto markets, giving them extra exposure to the forex market. By cutting out this additional forex exposure, Coinbase has managed to attract a large number of British traders.
Let’s hope that Coinbase is a mudlark and thrives in its new European home. Hedging its bets for the Brexit deadline is a smart move – one that numerous firms are starting to do. European traders using the platform need not worry anymore, as their accounts will still be active and accessible, even in the midst of the Brexit drama that’s surely on the horizon.
