November 17, 2021
Markets

Germany grants Coinbase licence for crypto custody services

The logo for Coinbase Global Inc, the biggest U.S. cryptocurrency exchange, is displayed on the Nasdaq MarketSite jumbotron and others at Times Square in New York, U.S., April 14, 2021. REUTERS/Shannon Stapleton/Files

FRANKFURT, June 28 (Reuters) – Germany’s financial market watchdog BaFin on Monday granted the cryptocurrency exchange Coinbase permission to provide crypto custody services and proprietary trading, the first licence it has issued for such business in Germany.

The licence allows Coinbase Germany GmbH to conduct proprietary trading of crypto assets, BaFin added.

Coinbase, which went public earlier this year, did not immediately respond to a request for comment.

Reporting by Tom Sims; Editing by Jan Harvey

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