Coinbase Acquires BUX Cyprus Subsidiary for CFDs License

Coinbase acquires BUX Cyprus subsidiary, gaining a CFDs license to expand services across the European Economic Area (EEA).

In a major development, Coinbase, the prominent US-listed cryptocurrency exchange, has acquired the Cyprus subsidiary of BUX, formerly known as Stryk. Coinbase Financial Services Europe is the new name for this subsidiary. The deal helps Coinbase expand into the European Economic Area (EEA). In addition to this, this will offer financial products in countries under the area.

BUX confirms the sale of BUX Europe Limited (BEU) to Coinbase, and CEO Yorick Naeff said it was an important step for the company. It has a reputation as a go-to company in the crypto industry, he added. Coinbase bought several businesses responsible for this and now holds a Cyprus Investment Firm (CIF) license that lets Coinbase offer contracts for differences (CFDs) products.

Coinbase to Offer Services Across EEA with New Cyprus License

This license lets Coinbase pass its services to across other EEA countries. Coinbase Financial Services Europe is not yet operational, but the Cyprus Securities and Exchange Commission (CySEC) has sanctioned the use of the domain coinbase.com/international-exchange/europe. The approval represents a great linchpin for the crypto exchange’s European operations.

However, despite Coinbase not yet releasing an official statement about details of its new Cyprus license, it looks as if the company is aiming at professional and institutional clients with their offer.

Previously, Coinbase was granted permission by the US, where the New York Department of Financial Services (NYDFS) allowed the crypto exchange to operate within the State. This step strengthens Coinbase’s grip on one of America’s most regulated cryptocurrency markets.

It looks like Coinbase wanted BUX’s Cyprus subsidiary for the license and operational infrastructure rather than for the previous client base. According to the Belgium Financial Services and Markets Authority (FSMA), the takeover deal was wrapped up in October of 2024, when the company’s name was changed from Bux Europe Ltd to Coinbase Financial Services Europe Ltd.

The acquisition represents Coinbase’s pledge to develop its European presence and provide products beyond traditional cryptocurrency trading. If Coinbase buys into a regulated entity in Cyprus, it can then build on its products and offerings for the growing European market of financial providers.