- Coinbase, one of the most prominent cryptocurrency exchanges, has announced plans to open an office in Ireland's capital, Dublin.
- The announcement is part of the company's contingency planning for a no-deal Brexit.
- "As we plan for all eventualities, it’s important that we continue servicing our customers across Europe, and Ireland would be our preferred choice there if it comes to it," UK CEO Zeeshan Feroz said.
Crypto firm Coinbase is opening a Dublin office as 'Plan B' for Brexit
The exchange says it is opening the Dublin office partly to serve rising demand from the European Union, but also as a means of ensuring it can keep all of its operations going in the event of no deal being reached between Britain and the EU during Brexit talks.
Coinbase, one of the most prominent cryptocurrency exchanges, has announced plans to open an office in Ireland's capital, Dublin, as it makes contingency plans for Brexit.
and we’re looking to capitalise on the talent pool that’s available to us in Ireland and hire other folks," Zeeshan Feroz, Coinbase's UK CEO told The Guardian.
Europe
Passporting rules allow EU finance companies to sell their services across the 28-member bloc with a local license, rather than getting a license to operate in each member country where it does business. The rights are tied strongly to membership of the European single market, and as a result will be lost once the UK drops out of the EU.
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