Coinbase Secures FCA Approval in the UK, Expands Footprint as Largest Crypto Exchange Outside US

Coinbase has officially secured approval from the United Kingdom's Financial Conduct Authority (FCA) as a registered virtual asset service provider (VASP), cementing its position as the UK’s largest registered cryptocurrency exchange. This approval allows Coinbase to serve both retail and institutional customers in one of its most critical international markets, offering crypto-to-fiat services. The UK is now Coinbase's largest market outside the US, with the company hinting at further expansion into Southeast Asia. 

This marks a major milestone for Coinbase, which has been rapidly expanding its regulatory footprint in Europe, already holding licenses in Ireland and Germany. The approval comes less than a year after the FCA completed an investigation into Coinbase Payments for "unintentional breaches" of a 2020 voluntary agreement, leading to a £3.5 million fine. As the FCA works toward establishing a comprehensive regulatory framework by 2026, Coinbase’s success in the UK signals growing crypto adoption in the country, where recent surveys show an increasing number of adults holding digital assets.