Coinbase has announced that the company will be opening a new office in Dublin, Ireland. The move is reportedly designed to ensure that the cryptocurrency exchange can continue to effectively serve customers in the EU, regardless of the outcome of the UK’s Brexit negotiations. A report from The Telegraph described the move as part of Coinbase’s “Brexit contingency planning.”
The Telegraph quoted Coinbase UK head Zeeshan Feroz, who said that the new office will focus on hiring local technology talent as it continues its efforts to expand operations across the EU:
"Our Dublin office signals Coinbase's growing presence in Europe and will complement the operations of our London hub, which will remain our European headquarters."
While its Dublin expansion could provide more flexibility for Coinbase in the event that Brexit negotiations fail to produce a workable financial deal between the UK and EU, the move offers other benefits as well. The Irish capital has reportedly adopted a welcoming attitude toward crypto innovation and “shown a willingness to develop conditions that will help crypto-companies thrive.”
Meanwhile, British Prime Minister Theresa May insisted this week that a fair Brexit deal remains “achievable” and told her nation’s MPs that it was important to remain focused on resolving the few "remaining but critical issues" that are still being negotiated.