Coinbase obtains VASP cryptocurrency license, officially entering France

Coinbase has been approved as a Virtual Asset Service Provider (VASP) in France, allowing Coinbase to offer a full range of retail, institutional, and ecosystem products and services to users in France.

Coinbase Receives AMF VASP License

The French regulatory authority, AMF, has granted Coinbase approval as a Virtual Asset Service Provider (VASP), effectively giving the company the green light to operate digital currency services in France. The VASP registration will allow Coinbase to provide the following services to retail and institutional users in France:

• Digital asset custody
• Buying and selling digital assets with fiat currency
• Trading digital assets with other digital assets
• Operating a digital asset trading platform

France 2030 Plan, Ramping Up Investment in Web3

According to CNBC, France has positioned itself as a leader in the tech sector, showcasing its strength in technologies such as artificial intelligence and cloud computing. This is part of President Emmanuel Macron's efforts to make the country a global tech hub.

As part of the "France 2030" plan, the country has pledged to invest €340 billion (approximately $365 billion) over five years, including subsidies and state funds, with one of the goals being to make the country a leader in the so-called "Web3" space.

According to data from the research company Toluna, currently 10% of French adults own crypto assets, while 24% plan to buy, sell, or trade cryptocurrencies in the next 12 months.

Daniel Seifert, Vice President and Managing Director for Europe, the Middle East, and Africa at Coinbase, stated:

Obtaining VASP status in France allows us to continue our global expansion in the best way possible, bringing the next billion people into the world of cryptocurrencies while ensuring the security of consumer assets and prioritizing compliance. France has a thriving web3 ecosystem, and we are excited about the prospects of contributing to it!