Coinbase expands Bitcoin services in Europe

The expansion allows people to exchange bitcoins and accept payments in 13 European countries

Bitcoin

Bitcoin

Coinbase, one of the more prominent exchanges for buying and selling bitcoins, is opening up wider access to the digital currency in Europe.

The company announced Wednesday the international expansion of its service into 13 countries across Europe. People in those countries can now use Coinbase to buy and sell bitcoins, and businesses can accept payments by linking a European bank account to a Coinbase account.

The services are available in Italy, Spain, France, Belgium, the Netherlands, Austria, Cyprus, Finland, Greece, Latvia, Malta, Portugal and Slovakia, after Coinbase held talks with regulators and financial authorities there.

Coinbase operates three Bitcoin services -- an exchange for buying and selling bitcoins, a digital wallet for storing them, and a payment processing service that makes it easier for merchants to accept them. People almost anywhere in the world could use the wallet, but the exchange and payment services were limited to the U.S.

With the expansion, Coinbase hopes to grow the use of Bitcoin among businesses in Europe and facilitate cross-border payments.

"We think launching in these additional countries is a major step for the entire Bitcoin community, and will help continue Bitcoin's growth as a global payment network," Coinbase said.

It will also help Coinbase compete against BitPay, another bitcoin payment processor used by more than 10,000 merchants around the world. Coinbase has around 36,000 merchants and retailers using it for payments, including brands like Overstock.com, Expedia and more recently eBay payment processor Braintree.

Coinbase is characterizing its European expansion as a beta launch, allowing people to buy and sell up to 500 euros' worth of bitcoins a day, for now. That's just over 1.3 bitcoins, according to Coinbase's current exchange rate.

Coinbase would not say which European banks it is working with, citing competitive reasons.

More retailers are accepting Bitcoin as an alternative to traditional payments. But regulators around the world are unsure what to make of it, and its legality varies by country and how it is used.

Zach Miners covers social networking, search and general technology news for IDG News Service. Follow Zach on Twitter at @zachminers. Zach's e-mail address is zach_miners@idg.com

Join the Good Gear Guide newsletter!

Error: Please check your email address.
Rocket to Success - Your 10 Tips for Smarter ERP System Selection

Tags Coinbasebusiness issuesInternet-based applications and servicese-commerceinternetBitcoin

Keep up with the latest tech news, reviews and previews by subscribing to the Good Gear Guide newsletter.

Zach Miners

IDG News Service
Show Comments

Most Popular Reviews

Latest Articles

Resources

PCW Evaluation Team

Matthew Stivala

HP OfficeJet 250 Mobile Printer

The HP OfficeJet 250 Mobile Printer is a great device that fits perfectly into my fast paced and mobile lifestyle. My first impression of the printer itself was how incredibly compact and sleek the device was.

Armand Abogado

HP OfficeJet 250 Mobile Printer

Wireless printing from my iPhone was also a handy feature, the whole experience was quick and seamless with no setup requirements - accessed through the default iOS printing menu options.

Azadeh Williams

HP OfficeJet Pro 8730

A smarter way to print for busy small business owners, combining speedy printing with scanning and copying, making it easier to produce high quality documents and images at a touch of a button.

Andrew Grant

HP OfficeJet Pro 8730

I've had a multifunction printer in the office going on 10 years now. It was a neat bit of kit back in the day -- print, copy, scan, fax -- when printing over WiFi felt a bit like magic. It’s seen better days though and an upgrade’s well overdue. This HP OfficeJet Pro 8730 looks like it ticks all the same boxes: print, copy, scan, and fax. (Really? Does anyone fax anything any more? I guess it's good to know the facility’s there, just in case.) Printing over WiFi is more-or- less standard these days.

Ed Dawson

HP OfficeJet Pro 8730

As a freelance writer who is always on the go, I like my technology to be both efficient and effective so I can do my job well. The HP OfficeJet Pro 8730 Inkjet Printer ticks all the boxes in terms of form factor, performance and user interface.

Michael Hargreaves

Windows 10 for Business / Dell XPS 13

I’d happily recommend this touchscreen laptop and Windows 10 as a great way to get serious work done at a desk or on the road.

Featured Content

Latest Jobs

Don’t have an account? Sign up here

Don't have an account? Sign up now

Forgot password?