News View Non-AMP

Coinbase Expands in Europe with BUX Cyprus Acquisition

Published by
Nidhi Kolhapur

Coinbase, the leading U.S.-listed cryptocurrency exchange, has made a major move to strengthen its presence in Europe by acquiring the Cyprus unit of BUX (formerly known as Stryk). The acquisition, completed in October 2024, rebrands the entity as Coinbase Financial Services Europe. This aligns with Coinbase’s strategy to boost regulatory compliance and expand its services across the European Economic Area (EEA).

Yorick Naeff, the CEO of BUX, also confirmed the deal, saying: “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 transaction allows coinbase to utilize BUX’s regulatory infrastructure while enabling BUX to concentrate on its main business operations.

A Strategic Regulatory Gain

With this acquisition, Coinbase secures a Cyprus Investment Firm (CIF) license, enabling it to offer contracts for differences (CFDs) products. The license also allows Coinbase to extend these services to other EEA member states through a passporting mechanism. This move supports Coinbase’s goal of catering to professional and institutional clients in Europe.

The Cyprus Securities and Exchange Commission (CySEC) registry confirms that Coinbase’s domain, “coinbase.com/international-exchange/europe,” has been approved, though it is not yet operational. This approval underscores Coinbase’s focus on becoming a key player in Europe’s cryptocurrency market.

Transition of BUX’s Clients

Coinbase’s primary interest in acquiring BUX’s Cyprus entity appears to be the license and operational setup rather than its existing clients. BUX had already transferred its CySEC clients to AvaTrade, another provider of CFDs, prior to the acquisition.

Official Changes Confirmed

The acquisition was finalized in October 2024, with Belgium’s Financial Services and Markets Authority (FSMA) recording the name change from BUX Europe Limited to Coinbase Financial Services Europe Ltd on October 11, 2024.

As the European cryptocurrency market continues to evolve, Coinbase’s strategic steps position it well for further growth and innovation.

Nidhi Kolhapur

Nidhi is a Certified Digital Marketing Executive and Passionate crypto Journalist covering the world of alternative currencies. She shares the latest and trending news on Cryptocurrency and Blockchain.

Recent Posts

M2 Money Supply vs. Global Liquidity: Don’t Get Mistaken!

The crypto market is always shifting based on global money trends, but a new debate…

April 1, 2025

XRP’s Worst-Case Scenario Could See a Drop to $0.30

XRP holders are finding themselves at a crossroads as recent market trends raise questions about…

April 1, 2025

Bitcoin’s Price Dropped by 5%—Experts are Seizing the Moment: RUVI AI’s Token Presale Launching in a few Hours

Bitcoin, the flagship cryptocurrency, has taken a hit with a 5% drop in its price.…

April 1, 2025

Will Dogecoin (DOGE) Crash or Skyrocket?: Data

Amid market uncertainty, Dogecoin (DOGE), a popular and the world’s largest crypto meme coin, appears…

April 1, 2025

Should Shiba Inu (SHIB) & Dogecoin (DOGE) Be Worried? Panshibi (SHIBI) Emerges As Best New Investment Pick This Easter!

According to historical footprints in the global crypto market, festive seasons are always important for…

April 1, 2025

Massive Buys Continue Into Panshibi (SHIBI) The Wildcard Launch As Pepe (PEPE) & Shiba Inu (SHIB) Investors Join The Bull-Run

Pepe Coin (PEPE) continues to struggle. Resistance limits upward momentum, and even a potential rally…

April 1, 2025