While Coinbase aims to compete in the EU derivatives market, it faces stiff competition from more prominent players like Binance, Bybit, OKX and Deribit.
Coinbase aims to expand its derivatives offerings in the European Union by acquiring a Markets in Financial Instruments Directive 2014 (MiFID II)-licensed entity in Cyprus.
MiFID II refers to the EU’s updated rules governing financial instruments. The EU updated the legislation in 2017 to address criticism that it was too focused on stocks and didn’t consider other asset classes, like fixed income, derivatives and currencies.
According to a blog post, Coinbase can begin offering regulated derivatives in the EU, like futures and options, with a MiFID II license. The company already offers spot trading in Bitcoin (BTC) and other cryptocurrencies.
Read more
Source: https://cointelegraph.com/news/coinbase-leverages-mifid-ii-to-enhance-european-derivatives-offerings