Coinbase Acquires BUX Cyprus, Rebrands as Coinbase Financial Services Europe
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Coinbase has expanded its European footprint by acquiring BUX's Cyprus unit and rebranding it as Coinbase Financial Services Europe. The strategic move gives the cryptocurrency exchange a Cyprus Investment Firm (CIF) license, enabling them to offer CFDs and passport their services across the European Economic Area (EEA).
The Cyprus regulator's registry shows approval for a "coinbase.com/international-exchange/europe" domain, though it's not yet live. Yorick Naeff, CEO of BUX, commented on the deal: "We are pleased with the sale of our MiFID licensed entity, BUX Europe Limited (BEU) to Coinbase, a globally recognised leader in the crypto industry."
This development follows a broader trend of crypto exchanges entering the traditional finance space, with Crypto.com recently acquiring Australian-licensed CFDs broker Fintek Securities, and Bybit holding a Mauritius license for forex and CFDs instruments.
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🇨🇾 Coinbase acquires BUX's Cyprus unit. The crypto exchange renamed the entity Coinbase Financial Services Europe, according to Finance Magnates. Through this acquisition, Coinbase has obtained a Cyprus Investment Firm (CIF) license, allowing it to offer contracts for differences (CFDs) products.
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