The American cryptocurrency exchange Coinbase has announced the expansion of its Coinbase Custody service. Thus, the Irish division of the exchange will serve European users.
Coinbase’s custodial service already serves customers from the UK, Switzerland, Germany and the Netherlands. However, with the launch of the Coinbase Custody International division, the company wants to better meet the requirements of customers in the region.
“By being located in the same region as our customers, we will be able to better meet regulatory requirements and customer expectations,” Coinbase said in a statement.
Thanks to the launch of the European division, the company also plans to add support for new cryptocurrencies to its platform. In addition, all steak services performed by Coinbase will be transferred to the new division.
Recall that the launch of the coinbase Custody service took place in early 2018. The service grew at a fairly rapid pace and within a year stored client funds worth more than $1 billion, and after the takeover of the Xapo service, the volume of stored cryptocurrencies increased to $7 billion.