Coinbase has acquired BUX's Cyprus subsidiary, allegedly planning to enter the contracts for difference market

ChainCatcher news, according to Finance Magnates, Coinbase has acquired the Cyprus subsidiary of BUX (formerly known as Stryk) and has renamed the entity to Coinbase Financial Services Europe.

With this acquisition, Coinbase now holds a Cyprus Investment Firm (CIF) license, which authorizes it to offer Contracts for Difference (CFD) products. Additionally, Coinbase can leverage this Cyprus license to provide financial products to other European Economic Area (EEA) member states.