The UK's Financial Conduct Authority (FCA) has granted Coinbase the necessary approval to operate as a registered virtual asset service provider (VASP), according to a Feb. 3 press release.
With this approval, the Nasdaq-listed exchange can now serve both retail and institutional customers and offer crypto services in one of its key international markets.
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The UK is now the largest market for Coinbase outside of its US headquarters.
Coinbase is the first crypto asset firm to be added to the FCA register in 2025, the last being trading firm GSR Markets in December 2024.
The FCA's permission came just under a year after the conclusion of its investigation into Coinbase Payments.