Coinbase has acquired BUX's Cyprus subsidiary and is suspected of entering the field of differential contracts

According to Finance Magnates, the US listed cryptocurrency exchange Coinbase has acquired the Cyprus subsidiary of BUX (formerly Stryk) and renamed the entity Coinbase Financial Services Europe. BUX CEO Yorick Naeff also confirmed the transaction, stating, "We are pleased to sell our MiFID authorized entity, BUX Europe Limited (BEU), to Coinbase Through this acquisition, Coinbase now holds a Cyprus Investment Company (CIF) license, which authorizes it to offer Contract for Differences (CFD) products. In addition, Coinbase can use this Cyprus license to provide financial products to other European Economic Area (EEA) member countries. The registration authority of the Cyprus Securities and Exchange Commission (CySEC) has confirmed that the domain name "(coinbase. com)/international exchange/Europe" has been approved by regulatory authorities, but has not yet been put into use. Although Coinbase has not officially confirmed, it appears to be targeting professional and institutional clients with the services it provides under its license in Cyprus. The transaction is suspected to have been completed in October last year, as the registration records of the Belgian Financial Services and Markets Authority (FSMA) indicate that the entity's name was changed from Bux Europe Ltd to Coinbase Financial Services Europe Ltd on October 11, 2024.