Coinbase Establishes Luxembourg MiCA Hub, Securing 450M-Person EU Passport
COIN•Coinbase opened its Luxembourg office on June 24 as its EU MiCA hub, securing a single passport covering over 450 million users across 27 states after winning its license in June 2025. Binance withdrew its license bid in Greece, risking EU market access ahead of the July 1 deadline.
1. Luxembourg MiCA Hub Launch
On June 24, Coinbase officially opened its Luxembourg office, designating it as the company’s European Union hub under the new MiCA regulation. Chief Policy Officer Faryar Shirzad and Luxembourg Finance Minister Gilles Roth attended the inauguration.
2. Securing EU-Wide License
Coinbase secured its MiCA license from Luxembourg's financial regulator in June 2025, more than a year before the July 1 deadline, giving it a passport to serve over 450 million users across 27 EU member states. The firm also holds national licenses in Germany, France and four other countries.
3. Binance License Withdrawal
Binance withdrew its license bid in Greece this week, leaving it off the ESMA register and jeopardizing its ability to operate under MiCA rules. The exchange now plans to seek approval from another EU regulator while highlighting its 1,500-strong compliance staff.
4. EU Market Implications
With the MiCA deadline days away, more than 230 firms have already obtained approval and can continue serving EU customers, positioning early adopters for market growth. Latecomers risk losing access to a combined market valued in the billions of dollars.
