Coinbase plans to expand into more European markets, despite downturn
Quick Take
- “We are driving a concerted effort to strengthen our presence in Europe,” the crypto exchange said on Friday.
- On June 14, Coinbase said it would cut the size of its workforce by about 18% to weather the crypto market downturn.
Coinbase Global said in a blog post that it was planning to expand in Europe, despite a digital asset market downturn.
“As part of our recently announced two-pronged growth strategy, we are driving a concerted effort to strengthen our presence in Europe,” the crypto exchange said on Friday.
While Coinbase already has a presence in the UK, Ireland and Germany, it said it is in the process of expanding into France, Italy, Spain and the Netherlands, with a goal of launching its retail, institutional and developer products.
On June 14, Coinbase said it would cut the size of its workforce by about 18% — or more than 1,000 people — to weather the crypto market downturn.
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