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Coinbase Strengthens European Position With Luxembourg MiCA License

Strategic Expansion in Europe

Coinbase has secured a groundbreaking Markets in Crypto Assets (MiCA) license from Luxembourg’s Commission de Surveillance du Secteur Financier, marking a key milestone in its European expansion. This strategic move positions Luxembourg as the central hub for Coinbase’s operations in the European Union, reinforcing its status as a leading innovator in crypto markets.

Meeting Regulatory Standards

The MiCA regulation, now fully implemented across all 27 EU member states, represents a comprehensive effort to standardize crypto regulation. Designed to mitigate risks for retail investors and restore industry confidence after several notable scandals, these regulatory measures pave the way for a more secure and transparent crypto ecosystem. With this license, Coinbase becomes the first U.S. crypto exchange to adhere to these stringent standards, setting a precedent for international competitors.

Recalibrating European Hubs

Although Coinbase originally established Ireland as its primary European base in 2023, recent evaluations led the company to pivot towards Luxembourg—a region recognized for its proactive and business-friendly regulatory environment. Daniel Seifert, Coinbase’s Vice President and Regional Managing Director for EMEA, emphasized that this decision was driven by Luxembourg’s compelling legal framework, including four pioneering blockchain-related laws, in contrast to Ireland, which currently lacks crypto-specific legislation.

Ongoing Investments and Future Prospects

Despite the shift to Luxembourg, Coinbase continues to invest heavily in Ireland, planning to augment its Dublin office with approximately 50 new roles. This dual investment strategy not only minimizes risk but also leverages Ireland’s strengths in tech innovation while capitalizing on Luxembourg’s regulatory advantages. CEO Brian Armstrong underscored the company’s commitment to shaping the future of crypto across Europe, reinforcing its all-in approach to the regional market.

Broader Industry Implications

Coinbase’s achievement arrives as other major exchanges, including Gemini, Bybit, OKX, and BitGo, vie for similar authorizations within the EU. With Gemini set to secure its own MiCA license from Malta, the competitive landscape is evolving rapidly. This regulatory progression is expected to spur further innovation and consolidation across the crypto trading sector, as global firms increasingly adapt to a unified European framework.

Sklavenitis Cyprus Sets A New Standard For Employee-Centric Benefits

Investing In Human Capital

In a bold move that underscores the growing importance of human capital in today’s business landscape, Sklavenitis Cyprus has taken innovative steps to ensure its workforce is both valued and supported. The supermarket chain has introduced a policy to pay a 14th salary to all employees—including those from Papantoniou Supermarkets—cementing its status as the sole retailer in Cyprus to implement such a comprehensive benefit.

A Significant Investment In People

This initiative is far from symbolic. With an estimated total cost of €2 million, it represents a committed investment in the company’s most valuable asset—its people. By providing an additional salary, Sklavenitis reinforces a culture of inclusivity and fairness, acknowledging every employee’s contribution to its success.

Robust Benefits For Long-Term Stability

Complementary to the 14th salary, the company has launched a robust benefits program designed to address both financial and personal security. An Automatic Cost of Living Adjustment (ATA) of 12.56 per cent ensures that wages remain aligned with inflation, safeguarding real income stability for its team members.

Comprehensive Health And Life Support

Sklavenitis further enhances employee welfare through access to a Group Life and Health Insurance Plan and a Provident Fund co-funded by the employer. These measures not only provide immediate protection but also empower employees to plan confidently for the future.

Exclusive Perks And Incentives

The company extends its commitment beyond conventional benefits by offering store discounts, a birth allowance, and holiday gift vouchers valued at €100 during both Easter and Christmas. These additional perks enhance employee satisfaction and underline Sklavenitis’ people-first ethos.

A Strategy For Mutual Success

In an industry where employee engagement directly impacts customer satisfaction, Sklavenitis’ comprehensive approach stands out as both a progressive and strategic business decision. By investing in its workforce, the company not only nurtures a supportive workplace but also drives superior corporate performance, setting a new benchmark for responsible employment practices in Cyprus.

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