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Bitcoin startup Coinbase has eyes on global expansion after opening new London hub

The unprecedented surge in the value of cryptocurrency Bitcoin this year has opened up a vast array of opportunities for businesses operating in the space, despite ongoing speculation from commentators about just when the bubble is going to burst.

Despite a 19% fall earlier in the week from its record highs of around $2,500 at the end of May, investors and speculators have continued to pile in to the digital currency with its value currently sitting over $2,400 at the time of writing.

Now one of the leading exchanges of Bitcoin, San Francisco’s Coinbase, has moved into new offices in London as it looks to capitalise on the boom and fuel its global expansion.

The exchange, which also allows users to trade other digital assets such as Litecoin and Ethereum, intends for its new London hub to become the centre of its European operations as well as continue its inroads into the UK which it says is its fastest growing market.

Founded in 2012, Coinbase was one of the early forerunners to back the technology and since then has attracted over $117m investment from major VCs.

In a blog post, Coinbase Chief Executive Officer, Zeeshan Feroz, said: “We have big plans for the year ahead. I’ll be providing regular updates here as we build out our European product.

“To kick things off, we are announcing the opening of a new office in London. This will serve as the hub for our European operations and help us better service our customers.

“The teams based here, will focus on delivering an experience that is native to countries we support.”