HomeAltcoinCoinbase has submitted an application to become a PSAN.

Coinbase has submitted an application to become a PSAN.

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It’s Coinbase’s turn. Following the announcement of competitor Binance’s entry into the extremely exclusive club of French PSANs, it is up to the American exchange to take an interest in the sesame issued by the Autorité des Marchés Financiers (AMF).
Is Europe the new exchange frontier?

As a reminder, the Digital Asset Service Provider (PSAN) designation permits crypto businesses like Coinbase to offer their services in France.
This is a nearly mandatory step for any company looking to launch in France.

Our partners at The Big Whale reported on the story, claiming that Coinbase would have filed its PSAN case in the fall of 2021.
Because the file’s processing time is quite long, the exchange may be ready to be allowed this week.

Coinbase is the largest American cryptocurrency trading platform, with 89 million users, and it distinguishes itself from its competitors by being listed on the stock exchange…
Even if the performance of its actions has left something to be desired.
As a result, his arrival as a PSAN is noteworthy.

What piques Coinbase’s interest in France?

Coinbase achieving PSAN accreditation has two major advantages.
On the one hand, it enables him to travel to Europe.
In recent months, we have seen an increase in interest from crypto platforms in the ancient continent, whose residents are increasingly gravitating to cryptocurrency.

Furthermore, having a license, such as PSAN status, allows you to plan for the future.
The European MiCA rule is going to be implemented in Europe, and it includes a clause that businesses are particularly interested in.
To claim to be validated at the European level, they will need to secure a license in at least one of the Member States.
Obtaining PSAN membership helps Coinbase to firmly establish itself within the continent.

 

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