Coinbase opened a Luxembourg office after securing a MiCA license from the CSSF, unlocking EU-wide crypto services under a single regulatory passport.
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Coinbase opened a new office in Luxembourg on Monday, the company said, cementing the country as its European headquarters after securing a license under the European Union's Markets in Crypto-Assets (MiCA) framework. The office will house compliance, legal, and product staff, with plans to expand headcount through the year.
The license, granted by Luxembourg's Commission de Surveillance du Secteur Financier (CSSF), allows Coinbase to offer crypto services across all 27 EU member states under a single regulatory passport. The move follows similar filings by other exchanges, including OpenPayd, which landed a MiCA license from Malta's regulator earlier this year.
Coinbase's Luxembourg office is the company's second major European hub after its London base, which operates under UK Financial Conduct Authority rules. The EU license lets Coinbase bypass the patchwork of national registrations that previously governed crypto operations in the bloc, cutting compliance overhead for cross-border services.
The MiCA framework, which took full effect in December 2024, sets uniform rules for crypto-asset issuers, trading platforms, and stablecoin providers. Exchanges that hold a license from any EU member state can serve customers in all 27 without additional approvals. Coinbase's Luxembourg license unlocks that access for its retail and institutional products, including spot trading, custody, and staking.
Coinbase CEO Brian Armstrong has called the EU's regulatory clarity a competitive advantage over the U.S., where crypto rules remain fragmented between the SEC, CFTC, and state-level regimes. The company's Coinbase's Luxembourg MiCA License Unlocks 27 EU Markets earlier this year outlined the scope of the passport.
The Luxembourg office opening comes as Coinbase integrates with Deribit, the largest crypto options exchange, and pushes for clearer U.S. crypto legislation. Armstrong recently touted bipartisan support for a market-structure bill, though no floor vote has been scheduled.
Coinbase did not disclose the size of the Luxembourg office or the investment behind it. The company reported $2.3 billion in revenue for 2024, up 58% from the prior year, driven by higher trading volumes and subscription services.
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