The U.S. cryptocurrency exchange told CNBC exclusively that it entered into an agreement to buy an unnamed holding company which owns a MiFID II license.
The EU updated the legislation in 2017 to address criticism that it was too focused on stocks and didn't consider other asset classes, like fixed income, derivatives and currencies.
If and when Coinbase completes the deal, the move would mark the first launch of derivatives trading by the company in the EU.
With a MiFID II license, Coinbase will be able to begin offering regulated derivatives, like futures and options, in the EU.
"This license would help expand access to our derivatives products by allowing Coinbase to offer them to eligible European customers in select countries across the EU," Coinbase said in a blog post, which was shared exclusively with CNBC on Friday.
Persons:
Leon Neal, Getty, MiFID, Coinbase
Organizations:
European Union, CNBC, EU
Locations:
ENGLAND, London, England, U.S, EU, bitcoin