Coinbase to start Luxembourg operations within weeks

The US-based crypto trading platform is eyeing to launch its Luxembourg operations within the next few weeks.

Coinbase CEO Brian Armstrong, who is one of the richest crypto founders, revealed the firm’s Luxembourg expansion plans at a technology conference in Kirchberg.

Armstrong said that Coinbase will hire 22 people in Luxembourg by the end of 2025. He added that the country’s regulators and government officials had been very welcoming to the company.

Coinbase has more than $320 billion worth of assets on its platform. The crypto platform processed almost $400 billion in quarterly trading volumes.

Coinbase will be among the few crypto names that entered Luxembourg. The country, which is known for attracting asset managers and hedge funds, is trying to attract big names from the emerging crypto sector.