Coinbase Picks Ireland for EU Hub

Hi NoRamp Community,

Daily News:

Coinbase Picks Ireland for EU Hub

CryptoQuant Partners With SK Telecom on New Korean Crypto Wallet

Circle Releases Two New Beta Tools for Developers

Coinbase Picks Ireland for EU Hub:

• Coinbase has chosen Ireland as its main regulatory hub in the European Union (EU) due to its supportive environment for FinTech firms and its reputable regulatory framework. With an existing e-money license in Ireland, the company plans to apply for the Markets in Crypto Assets (MiCA) license, which will allow it to operate across the EU.

• The company sees Ireland's potential, as indicated by Daniel Seifert, Coinbase's VP for Europe, Middle East, and Africa. Nana Murugesan, VP of international and business development, mentioned they already employ around 150 staff in Ireland, with intentions to hire more due to the nation's talent and favorable tax conditions. Murugesan is working on securing the MiCA license, which is expected to come into effect by the end of 2024.

• Apart from its operations in Europe, Coinbase is registered in Italy, the Netherlands, and Spain, while facing regulatory challenges in the U.S. Murugesan emphasized the company's intention to expand in regions with clear regulatory frameworks. With its ongoing European registrations, Coinbase aims to diversify its offerings, introducing both trading and everyday use products.

CryptoQuant Partners With SK Telecom:

• CryptoQuant, a prominent blockchain data and research platform, has partnered with SK Telecom, one of South Korea's leading telecom companies, to introduce a new mobile-based cryptocurrency wallet named T wallet. This product will furnish users with both token storage and CryptoQuant’s advanced on-chain analysis tools.

• The CEO of CryptoQuant, Ki Young Joo, emphasized the potential of the T wallet, stating that integrating the company's analytical strengths can offer valuable insights to users for informed crypto trading and investing decisions. SK Telecom's Jong Seung Kim also sees the wallet as a catalyst for greater cryptocurrency uptake in South Korea, a nation already characterized by its active crypto trading community.

• This collaboration between CryptoQuant and SK Telecom signifies the growing trend of mobile crypto applications utilizing on-chain intelligence to better guide user decisions. As global crypto adoption propels forward, similar joint ventures involving telecom giants and blockchain analytics providers may become more common.

Circle Releases Two New Beta Tools for Developers:

• Circle is introducing two critical beta tools aiming to propel blockchain technology into mainstream adoption. The smart contract platform will enable developers to embed contract interactions within decentralized applications across multiple blockchains. Their gas station offers a frictionless experience by managing transaction fees, ensuring a smooth user and developer experience with Circle’s programmable wallet.

• They’re emphasizing the innovative potential of programmable wallets. These tools simplify several complex blockchain aspects, including private key security, transaction management, blockchain node operations, and cross-blockchain interoperability. This streamlining allows developers to deploy applications more efficiently.

• Circle has actively engaged in strategic partnerships to further its blockchain goals. A notable collaboration with OKX focuses on enhancing USDC features on both the OKX Wallet and OKX DEX aggregator.

NoRamp:

NoRamp is building Web2’s favorite Web3 apps on our lightning-fast payment infra. Join our discord, dive into our our docs, or check out our website to learn more.

Proof of Work Podcast:

NoRamp chatted with Ross Buhrdorf, CEO and Founder of ZenBusiness. He was previously the founding CTO of HomeAway, which sold to Expedia for $3.9B. Check it out here.

If you’ve read this far and haven’t yet subscribed, you probably should here.