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Gibraltar continues to bring encrypted business into its fintech-friendly jurisdiction, with Coinbase adding the nation to its European market and eToroX obtaining an operating license to offer crypto-asset services in the region.
Coinbase, as part of its 12-day Coinbase promotion, announced today that it is adding six European countries to its crypto-exchange platform, including Iceland, Lithuania and in particular Gibraltar, an island nation (technically a British Overseas Territory) that It's quickly becoming a "crypto-island" to rival Malta. Coinbase has added a number of resources (and now regions) to its trading platform as part of a Christmas-themed effort to increase notoriety and functionality.
Further information: Coinbase transfers $ 5 billion in encryption to the largest ever migration
eToroX made a similar announcement indicating that it has acquired a license to run a crypto-active service on the island from the equivalent of the SEC country, the Gibraltar Financial Services Commission (GFSC). eToro focuses on the management of existing resources and acts as a bridge between cryptographic and digital resources and family resources to operators. As eToro's co-founder stated in the statement, "the cryptographic assets and blockchain technology that supports them will revolutionize global finance, leading to the greatest transfer of wealth on the blockchain."
To learn more: Gibraltar Blockchain Exchange gets full license to operate from regulators
Gibraltar has already made significant progress by adopting blockchain technology and encryption, having promulgated a series of legislative moves in favor of fintech, including the launch of regulated exchanges and the launch of a government-funded blockchain education program. Gibraltar seems motivated to attract the crypto development and blockchain technology on the island, both through legal programs explicitly compatible with the blockchain and with tax laws favorable to finance. Gibraltar will probably be an incursion that reappears in the encrypted scene for the foreseeable future.
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