Cryptocurrency trading behemoth Coinbase Global Inc.
What Happened: Coinbase won a Virtual Asset Service Provider registration from the Financial Conduct Authority, the UK's financial regulator, the company said in an X post. Coinbase said the registration makes it the biggest registered digital assets player in the country.
"The United Kingdom is our biggest international market, and this registration represents an important chapter in our international expansion strategy," the firm added.
Coinbase is the largest cryptocurrency exchange in the U.S. and one of the largest in the world, facilitating trades worth nearly $12 billion in the last 24 hours, according to CoinGecko.
This announcement comes on the heels of Coinbase's acquisition of Spindl, an on-chain advertising and infrastructure platform, aimed at enhancing the visibility of projects built on its Ethereum layer-2 network, Base.
The company is expected to report its fourth quarter and full-year results on Feb. 13 after market close.
Price Action: Shares of Coinbase popped 1.13% in after-hours trading, after closing down 2.38% at $284.41, according to data from Benzinga Pro. Year-to-date, the stock has gained 14.54%.
