Ireland Approves Virtual Assets Service Provider Application

In a June 11 report, was pleased to announce the approval of the Virtual Assets Service Provider (VASP) registration in Ireland. The crypto exchange stated that the Central Bank of Ireland (CBI) approved its VASP early this week. 

Obtaining the VASP allows to expand its market presence in Ireland. The exchange is expected to offer diverse crypto-to-fiat exchange services and wallets. The approval of VASP in Ireland aligns with the objective of, which is to operate as a compliant firm. Secure VASP License in Ireland

The Singaporean crypto exchange has remained committed to complying with the global standards, including the anti-money laundering (AML) requirement and terrorism financing rules. 

Besides the endeavor to become a complaint exchange, prioritized customers’ needs. has a sustainable client base serving over 100 million users globally.

A statement from chief operating officer Eric Anziani revealed that the approval of VASP in Ireland demonstrated the company’s commitment to enhance compliance. The executive confessed that has been pushing for the responsible use of innovation. 

Therefore, Anziani believes that entrants of to the Irish market will enable investors to buy and sell comprehensive crypto products. The approval came months before implementing the demand for crypto assets (MiCA) rules in the European Union, which is expected to simplify cross-border trade. 

Attractiveness of Ireland Crypto Market

In readiness for the MiCA rules, fast-paced crypto exchanges, including Coinbase, Gemini, and Ripple, have expanded to Ireland. will join crypto exchanges to offer crypto products to Irish users. 

Apart from Ireland, has obtained VASP licenses in France, Singapore, Dubai, Australia, and Spain, among other countries. The approval of the license demonstrates Ireland’s commitment to promoting crypto-asset adoption. 

In 2023, the country’s apex bank approved seven crypto firms to operate in the region. Ireland has posed as a crypto-friendly country in the EU. Last year, the Coinbase team revealed plans to establish its crypto hub in Ireland.

The Coinbase team stated that Ireland has a pleasant business environment for fintech companies. Its expansion to Ireland demonstrated Coinbase’s commitment to expand its European market presence ahead of MiCA regulations.

Editorial credit: rafapress /

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