Planning for Brexit: Crypto Exchange Giant Coinbase Opens Office in Ireland

BaraxLo

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Quote from: oksgvardukraine2018 on October 16, 2018, 05:15:28 AM

Planning for Brexit: Crypto Exchange Giant Coinbase Opens Office in Ireland

Cryptocurrency exchange Coinbase has opened a new office in Dublin to mark its latest expansion into Ireland as a marked effort to “plan for all eventualities for Brexit,” according to a top Coinbase executive.

In an announcement on Monday, San Francisco-based cryptocurrency exchange Coinbase – the industry’s first ‘unicorn’ – said Dublin “was the clear choice” in its ongoing expansion effort. The new office in Dublin will compliment Coinbase’s existing operations in London, the base for its EU operations.

Ireland’s minister for financial services and insurance Michael D’Arcy stated:

“I am delighted that Coinbase is opening an office in Dublin. This decision highlights the completive offering and attractiveness of Ireland for financial services.”
https://www.ccn.com/planning-for-brexit-crypto-exchange-giant-coinbase-opens-office-in-ireland/

It seems that Ireland is becoming attractive for financial services.

With Brexit knocking, this is actually a very brilliant move I must say. Asides the whole Brexit thing, Ireland has been known for a very friendly country when it comes to doing business and this is probably one of the reasons why and for the fact that they are spreading their tentacles globally is a very good thing as far as I am concerned.

So far, we are beginning to see different countries trying to attract as much as possible and most especially the cryptocurrency business sector and I believe as time goes on, we will get to see many more countries making this attempt.

Whosdaddy

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Quote from: damberg on October 16, 2018, 08:25:25 AM

There are still a lot of ways of executing the exit itself on both sides (EU and Great Britain). It could be very painfull for entrepreneurs and companies. On the other hand, Ireland altogether with for example Germany will benefit from companies changing their domiciles.

With the whole global economic and political uncertainty, I am sure most businesses will be looking for a ground that would be fruitful for them and won't have to worry about any issue. Ireland has been known to offer stable, excellent and pro-business environment and this is something that is expected for smart organizations to be looking for places like this to grow.

Do we even want to talk about the corporate taxes which are pretty low and a very strong legal framework for development and protection of intellectual property rights, and a very growing economy? Obviously, anyone would want a situation favorable for their business and I am not surprised that this move was made by Coinbase.

damberg

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Quote from: millensharon8 on October 17, 2018, 10:59:16 AM

Quote from: damberg on October 16, 2018, 08:25:25 AM

There are still a lot of ways of executing the exit itself on both sides (EU and Great Britain). It could be very painfull for entrepreneurs and companies. On the other hand, Ireland altogether with for example Germany will benefit from companies changing their domiciles.

A lot of companies will obviously be looking at the possible negative effect this would have on them and practically will be looking out for neutral grounds where business can be extremely favorable, and Ireland has proven itself over the years when it comes to doing business here.

If you want to take a look to many of the world's successful company till date, Ireland is a home to so many of them. Do we want to talk about the tax, the ease of doing business, political stability, a collaborative ecosystem just to name a few, I believe every business in their sane mind will want this. I really do not even need to go into how brexit may have instigated that, but whichever way, it was a brilliant move.

Yes, stable political environment, simple tax system and "collaborative ecosystem" (as you have named it very precisely) are long term determining variables of successful country (see for example Switzerland, Ireland etc.). I wish all paternalistic countries understood this simple logic.

millensharon8

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Quote from: damberg on October 16, 2018, 08:25:25 AM

There are still a lot of ways of executing the exit itself on both sides (EU and Great Britain). It could be very painfull for entrepreneurs and companies. On the other hand, Ireland altogether with for example Germany will benefit from companies changing their domiciles.

A lot of companies will obviously be looking at the possible negative effect this would have on them and practically will be looking out for neutral grounds where business can be extremely favorable, and Ireland has proven itself over the years when it comes to doing business here.

If you want to take a look to many of the world's successful company till date, Ireland is a home to so many of them. Do we want to talk about the tax, the ease of doing business, political stability, a collaborative ecosystem just to name a few, I believe every business in their sane mind will want this. I really do not even need to go into how brexit may have instigated that, but whichever way, it was a brilliant move.

sinkfish

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Quote from: BlueStackz on October 17, 2018, 03:00:18 AM

Quote from: oksgvardukraine2018 on October 16, 2018, 05:15:28 AM

Planning for Brexit: Crypto Exchange Giant Coinbase Opens Office in Ireland

Cryptocurrency exchange Coinbase has opened a new office in Dublin to mark its latest expansion into Ireland as a marked effort to “plan for all eventualities for Brexit,” according to a top Coinbase executive.

In an announcement on Monday, San Francisco-based cryptocurrency exchange Coinbase – the industry’s first ‘unicorn’ – said Dublin “was the clear choice” in its ongoing expansion effort. The new office in Dublin will compliment Coinbase’s existing operations in London, the base for its EU operations.

Ireland’s minister for financial services and insurance Michael D’Arcy stated:

“I am delighted that Coinbase is opening an office in Dublin. This decision highlights the completive offering and attractiveness of Ireland for financial services.”
https://www.ccn.com/planning-for-brexit-crypto-exchange-giant-coinbase-opens-office-in-ireland/

It seems that Ireland is becoming attractive for financial services.

They are really getting global now. Apple had a place there as well and I am sure google is big there as well, financial world wise ireland is a clear choice because they are both right there in britian with huge countries and world power status and they provide great taxes for big companies and very lax laws regarding financial institutions. So coinbase getting bigger to ireland and getting much better valuation because of it means a lot to them.

That is important to them because almost all startups in our world works towards that inevitable "exit", they want to value as much as possible as soon as possible so that when they are huge they can get an offer from bigger companies like google or facebook or whatever and sell their company to them and make a ton of money. Now considering coinbase is already huge, they may not even go for that, they may go for being the big in crypto world.

coinbase will sell their company, but no one in the world willing to pay the price. coinbase grow too big.

BlueStackz

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Quote from: oksgvardukraine2018 on October 16, 2018, 05:15:28 AM

Planning for Brexit: Crypto Exchange Giant Coinbase Opens Office in Ireland

Cryptocurrency exchange Coinbase has opened a new office in Dublin to mark its latest expansion into Ireland as a marked effort to “plan for all eventualities for Brexit,” according to a top Coinbase executive.

In an announcement on Monday, San Francisco-based cryptocurrency exchange Coinbase – the industry’s first ‘unicorn’ – said Dublin “was the clear choice” in its ongoing expansion effort. The new office in Dublin will compliment Coinbase’s existing operations in London, the base for its EU operations.

Ireland’s minister for financial services and insurance Michael D’Arcy stated:

“I am delighted that Coinbase is opening an office in Dublin. This decision highlights the completive offering and attractiveness of Ireland for financial services.”
https://www.ccn.com/planning-for-brexit-crypto-exchange-giant-coinbase-opens-office-in-ireland/

It seems that Ireland is becoming attractive for financial services.

They are really getting global now. Apple had a place there as well and I am sure google is big there as well, financial world wise ireland is a clear choice because they are both right there in britian with huge countries and world power status and they provide great taxes for big companies and very lax laws regarding financial institutions. So coinbase getting bigger to ireland and getting much better valuation because of it means a lot to them.

That is important to them because almost all startups in our world works towards that inevitable "exit", they want to value as much as possible as soon as possible so that when they are huge they can get an offer from bigger companies like google or facebook or whatever and sell their company to them and make a ton of money. Now considering coinbase is already huge, they may not even go for that, they may go for being the big in crypto world.

omonuyak

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This is a good news and hope one day coinbase will have office and exchange platform on every continent and countries. We may not see were cryptocurrencies market is heading to but the reality is that a time will come that the little bitcoin you have now will amount to million in your local currency. Coinbase has make us proud again and that is why I rated them as the best in customer service.

dothebeats

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Quote from: LeGaulois on October 16, 2018, 07:32:09 AM

A lot of medium and large enterprises are there mainly to avoid the high taxes (i.e. Google)

There's one of the promising reasons why companies move their stations to Ireland. If not for the low taxes, perhaps these guys would move into bitcoin-friendly countries such as Switzerland and Malta, though relocation wouldn't be that easy given the distance of these countries from the Great Britain. Ireland is still a part of the EU, and if that doesn't hurt Coinbase's business at the very least, why not move out there since it's closer and taxes are quite cheaper?

cryptocrusher

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Ireland is one of the most logical places for businesses to move their offices from London in the wake of brexit. It's likely to be the country with the closest ties to the UK given the land border but it is also part of the EU and the customs union. More and more companies are going to adopt a similar strategy in the coming months as many have already done so. I won't get in to brexit itself because that's a whole can of worms I could do without revisiting Cool

damberg

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There are still a lot of ways of executing the exit itself on both sides (EU and Great Britain). It could be very painfull for entrepreneurs and companies. On the other hand, Ireland altogether with for example Germany will benefit from companies changing their domiciles.

LeGaulois

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With the Brexit, we will see an exodus of start-ups and established companies moving from England. A lot of them are working on it since months.
Not surprising to see Coinbase following the same path but I disagree to say Ireland is attractive for the financial industry. A lot of medium and large enterprises are there mainly to avoid the high taxes (i.e. Google)

oksgvardukraine2018

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Planning for Brexit: Crypto Exchange Giant Coinbase Opens Office in Ireland

Cryptocurrency exchange Coinbase has opened a new office in Dublin to mark its latest expansion into Ireland as a marked effort to “plan for all eventualities for Brexit,” according to a top Coinbase executive.

In an announcement on Monday, San Francisco-based cryptocurrency exchange Coinbase – the industry’s first ‘unicorn’ – said Dublin “was the clear choice” in its ongoing expansion effort. The new office in Dublin will compliment Coinbase’s existing operations in London, the base for its EU operations.

Ireland’s minister for financial services and insurance Michael D’Arcy stated:

“I am delighted that Coinbase is opening an office in Dublin. This decision highlights the completive offering and attractiveness of Ireland for financial services.”
https://www.ccn.com/planning-for-brexit-crypto-exchange-giant-coinbase-opens-office-in-ireland/

It seems that Ireland is becoming attractive for financial services.

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