Crypto exchange Coinbase looks to expand footprint in Europe

FILE PHOTO: A representation of the cryptocurrency is seen in front of Coinbase logo in this illustration taken, March 4, 2022. REUTERS/Dado Ruvic/Illustration/File Photo

(Reuters) - Cryptocurrency exchange Coinbase Global Inc said on Friday it was looking to expand in some European markets, even as the digital asset market continues to experience a downturn.

The company is in the process of expanding in France, Italy, Spain and the Netherlands, it said in a blog post, adding that it was aiming to launch its retail, institutional and developer products in all those markets.

In June, Coinbase slashed 1,100 jobs, constituting nearly 18% of its workforce.

(Reporting by Niket Nishant in Bengaluru; Editing by Shailesh Kuber)