Coinbase and Gemini are set to enter the European crypto market after reports on June 13 suggest both crypto companies are on the verge of securing Markets in Crypto Assets (MiCA) licenses.
According to Reuters, Gemini is close to receiving an operating license from Malta, whereas Coinbase will look to Luxembourg for its MiCA license.
MiCA regulations outline that European Union (EU) member states can issue licenses for Crypto-Asset Service Providers (CASPs) as long as they provide one of the three main categories; Asset-Referenced Tokens (ARTs), Electronic Money Tokens (EMTs), and other crypto assets.
Gemini, a US-based crypto exchange founded by Cameron and Tyler Winklevoss, has been gearing up for an expansion into Europe after naming Mark Jennings as its Head of Europe, as well as Daniel Slutzkin who has led operations in the UK since January 2025.
A MiCA license, which has been available since June 2024, is also being sought by Coinbase following its decision to use Dublin as its European hub in October 2023. While the company initially stated it was working with the Central Bank of Ireland to obtain a license, Reuters reported Coinbase has opted for a license in Luxembourg.
CASPs can apply for more than one MiCA license in each of the 27 countries where applicable. Bitpanda is a prime example of this after securing its latest license in Austria last April, which brought its total number of MiCA licenses to 10.
In time for a new product launch?
The news of Coinbase’s impending arrival to Europe may bode well for its latest product launch, announced June 12 at the State of Crypto Summit 2025.
Coinbase will roll out a Bitcoin cashback feature within the Coinbase One Card in fall 2025 that will enable Coinbase One subscribers to earn as much as 4% back on Bitcoin for every purchase made.
Coinbase One Card customers will be able to earn more assets back the more Bitcoin they hold, as well as being able to access benefits from the American Express Network.
While Coinbase confirmed the feature will only be available to Coinbase One members in the US, there is a view to expand the service across to other jurisdictions, including Europe, if successful.
