Coinbase's efforts to grow its business in Europe scored a victory as the cryptocurrency exchange announced it has secured registration with the Bank of Spain.

The U.S.-based trading platform said last week in a blog post it "has registered as a cryptocurrency exchange and custodian wallet provider" with Spain's central bank. "This registration will allow Coinbase to offer our full suite of products and services to retail and institutional users in Spain, all in compliance with the national legal framework," the company also said.

In Spain, 29% of adults see crypto as the future of finance, while cryptocurrencies are the nation's second most popular payment method, according to Coinbase.

Onternational expansion

In 2022, Coinbase made news by hiring staff to help lead its European …