Coinbase Global ( NASDAQ: COIN ) said Thursday it secured a license to operate as a cryptocurrency exchange and provide custodial wallet services in Bermuda, as the trading platform continues expanding its footprint. "Coinbase Bermuda obtained a Class F License under the Digital Asset Business Act from the Bermuda Monetary Authority," the company said in a blog post. Coinbase ( COIN ) is also in talks with Abu Dhabi Global Market's Financial Services Regulatory Authority for a potential license for a regulated exchange. The company plans to launch an offshore crypto derivatives exchange in Bermuda possibly next week, Fortune reported , citing an unnamed source. Earlier this week, Coinbase ( COIN ) CEO Brian Armstrong said the exchange would consider relocating outside the U.S. if regulatory clarity does not improve. "Coinbase ( COIN ) is also focused on international markets, many of which are moving forward with strategies to become crypto hubs," the firm said. "We would like to see the U.S. take a similar approach, but a regulation by enforcement approach is instead leading to a disappointing trend for crypto development." More on Coinbase Coinbase Is Up 80% This Year: Why It's Time To Be Cautious Coinbase trading volumes flat from Q4 despite rising crypto prices: BofA Coinbase: Invest If You Believe In Crypto
