Your Coinbase MiCA Migration – What You Need to Know

Coinbase has officially received its Markets in Crypto-Assets (MiCA) license from the Commission de Surveillance du Secteur Financier (CSSF) in Luxembourg. This significant milestone enhances our ability to provide regulated, trusted, and secure trading, financing, and custody services to institutions across the European Economic Area (EEA).

What This Means for Your Account

Scope: Coinbase Institutional account(s) with a place of business or incorporation in the EEA, or those currently contracted with one of Coinbase’s European entities, your account may be migrated to our new MiCA-regulated structure.

This page provides essential information to help you understand the migration process, which entity your account may transition to, and any required actions to ensure continued service.

Please note, Migration paths vary depending on your account’s current contracting entity and jurisdiction. Not all non-EEA clients will move to a MiCA-regulated entity.

After migration, crypto trading and custody services will be provided by Coinbase Luxembourg, S.A. (CBLU) and fiat services will be provided by Coinbase Ireland Limited (CBIE).

Essential Information for Your Migration:

1. Novation Agreements: Understanding the Transfer of Your Contract

What is the Novation Agreement? The novation agreement is a legal document that formally transfers your existing client agreement with Coinbase to the new MiCA-licensed entity
- Note this does not create a new contract, rather it moves the existing agreement and commercially agreed terms to the new entities, it also adds clauses required by us to offer crypto services that comply with MICA. Essentially the new Coinbase entities(CBLU, CBIE) will step into the position of the current Coinbase entities as your new service providers.
- This is a standard process for regulatory compliance.
What to Expect:
- Your authorized signatory (or an alternative contact) will receive the novation agreement via email from Ironclad (noreply@sign.ironcladapp.com).
- Action Required: Please review and sign this document promptly.
- Once the novation agreement is signed, we will confirm the migration date for your account(s) to minimize disruption.
Key Point: No action is required from you at this moment if you haven't received the novation agreement yet. You will be notified in advance.

2. The European Union (EU) Travel Rule: Enhancing Transparency for Crypto Transfers

What is the Travel Rule? The EU Travel Rule (Transfer of Funds Regulation, TFR) is a regulatory requirement that mandates Crypto-Asset Service Providers (CASPs) like Coinbase to collect and transmit specific information about the sender and recipient of crypto-asset transfers. This is aligned with global efforts to prevent money laundering and terrorist financing.
When does it Apply? Travel Rule will apply to transactions processed from your account(s) facing our MiCA entity CBLU. It specifically applies to:
- Transfers from your Coinbase account to an external (off-platform) wallet.
- Deposits into your Coinbase account from an external (off-platform) wallet.
What You Need to Do (Post-Migration):
- Allowlisting Addresses: You will be required to "allowlist" new external crypto addresses in your Coinbase Address Book before you can initiate withdrawals to them. This process may involve verifying ownership of self-hosted wallets (e.g., via a small deposit verification, often called a "Satoshi-Test," or a digital wallet signature).
- Providing Counterparty Information: For both deposits and withdrawals to/from external Crypto Asset Service Providers (CASPs - other exchanges, brokers), you will need to provide information about the counterparty (e.g., CASP name, counterparty's business name, country).
Our Goal: We are committed to making this process as seamless as possible while ensuring full regulatory compliance. Detailed instructions can be found here..

3. Legal Entity Identifier (LEI) Requirements: Standardizing Identification

What is an LEI? A Legal Entity Identifier (LEI) is a 20-character alphanumeric code that uniquely identifies legal entities participating in financial transactions globally. It promotes transparency and enhances regulatory oversight.
Why is it Required? MiCA mandates the use of LEIs for legal entities, particularly for Crypto-Asset Service Providers (CASPs) and their institutional clients. It helps regulators track activities and assess risks within the crypto market.
Action Required: A valid LEI will be required for all clients trading on Coinbase Luxembourg, S.A.
- Automatic Population: We will attempt to automatically populate your LEI using the Global Legal Entity Identifier Foundation (GLEIF) database.
- Direct Provision: If we are unable to retrieve your LEI, or if you prefer to provide it directly, please contact clientonboarding@coinbase.com.
- Important:
  - Accounts without a valid LEI on file may be restricted until one is provided
  - LEI is not required for custody only clients

4. Important Changes Before, During & After Migration :

Please find an overview of key changes and action items across Coinbase Prime and Coinbase Prime DMA ( Prev. Exchange) in the table below.

Next Steps:

Sign Your Novation Agreement: Your authorized signatory will receive this from Ironclad (noreply@sign.ironcladapp.com).
Await Migration Date Notification: After signing, you'll receive advance notice of your specific migration date and further detailed instructions.

Questions?

For any immediate questions, please contact your Account Manager or email:

Prime-related inquiries: primeops@coinbase.com
Exchange-related inquiries: exchangeops@coinbase.com

	Features	Coinbase Prime DMA (Previously Exchange)	Coinbase Prime
Pre-Migration	KYC	Additional KYC documents may be required for a subset of clients. The Coinbase Onboarding team will reach out for additional information where required.	Additional KYC documents may be required for a subset of clients. The Coinbase Onboarding team will reach out for additional information, where required.
	Staking	Not applicable	Entities contracted with CCI: staked assets will remain staked and continue to accrue applicable rewards IMPORTANT: Entities contracted with CCTC: clients will need to un-stake their assets prior to migration to CBLU. New staking transactions will also be temporarily disabled and re-enabled until after migration to CBLU.
During Migration	Migration Downtime	No downtime is required for PrimeDMA (Previously Exchange). Please note, after migration, clients will need to log in at dma.prime.coinbase.com instead of exchange.coinbase.com (your existing login credentials will continue to work)	Scheduled downtime of up to several hours is required for Prime to complete the migration process. We aim to schedule this during evening hours GMT.
	Trading	Trading will remain available.	IMPORTANT: Trading will not be available during the downtime period and open trade orders will be cancelled, ahead of the migration downtime and need to be re-entered post migration.
	Financing	CBE and INTX Loans will remain available.	IMPORTANT: Financing products will not be available during the downtime period and clients will be unable to open/close loans or perform other activities related to financing products
	Crypto Transfers (deposits & withdrawals)	Crypto transfers will remain available.	Crypto transfers (deposits and withdrawals) will be disabled during downtime.
	Trusted Address Book	Trusted address book and any verified travel rule information will be migrated.	Trusted address book and any verified travel rule information will be migrated
Post-Migration	Identification Verification	IMPORTANT: Some clients will be prompted to complete identification verification when logging into PrimeDMA (Previously Exchange). This process involves confirming a valid ID and taking a photo of oneself via the UI. Once reviewed and authorized, access to the UI will be granted.	Entities contracted with CCTC: Some clients will be prompted to complete identification verification when logging into Prime. This process involves confirming a valid ID and taking a photo of oneself via the UI. Once reviewed and authorized, access to the UI will be granted. IMPORTANT: Other migrating clients not contracted with CCTC may be prompted to complete identification verification at their account's next KYC refresh.
	Asset Support	Clients can expect asset parity (including trading pairs). Please note, only MiCA-approved stablecoins will be available.	Trading: clients can expect existing asset parity (including trading pairs) except for non-MiCA compliant stablecoins Vault: CCI vault clients will see asset parity and CCTC clients will see an increase in Please note, only MiCA approved stablecoins will be available.
	Fiat Transfers (deposits & withdrawals)	Post migration, you may be required to leverage new fiat transfer instructions. Log in at dma.prime.coinbase.com to review your fiat transfer instructions. IMPORTANT: Any existing fiat instructions saved with third-party services, counterparties, or internal systems must be updated to the new details to avoid disruption.	Post migration, new fiat transfer instructions will be visible in the UI and clients will need to to ensure withdrawals are available. Please note, EUR fiat transfers will be made available later this year. IMPORTANT: Any existing fiat instructions saved with third-party services, counterparties, or internal systems must be updated to the new details to avoid disruption.
	Crypto Trading Wallet Addresses	Crypto trading wallet addresses will remain the same.	Once migration has been processed clients will see new crypto trading wallet addresses. IMPORTANT: funds sent to previous trading wallet addresses may be lost and clients *must* ensure any crypto trading address saved with third parties, counterparties, or internal systems are updated to the new address(s)
	Crypto Vault Wallet Addresses	Not applicable	Entities contracted with CCI: no changes to vault wallets or addresses. Entities contracted with CCTC: vault wallets will remain the same but the address will be rotated to upgrade to our secure and best-in-class back-end key management. Clients will see on-chain sweep transfer activity in their activity history. Historical wallet addresses will remain associated with the account.
	Reporting & Statements	Reporting and statements will reflect CBLU post migration and include all historical activity.	Entities contracted with CCI: no changes to vault wallets or addresses. Entities contracted with CCTC: vault wallets will remain the same but the address will be rotated to upgrade to our secure and best-in-class back-end key management. Clients will see on-chain sweep transfer activity in their activity history. Historical wallet addresses will remain associated with the account.
	Invoicing	Invoice payment instructions will be updated as part of the migration. IMPORTANT: Ensure that you use the new payment details provided in your next invoice when making payments.	Invoice payment instructions will be updated as part of the migration. IMPORTANT: Ensure that you use the new payment details provided in your next invoice when making payments.
	Security Controls	Security controls including user passwords and 2FA will be unchanged.	Security controls including user permissions, entity and portfolio controls and transfer settings will all be migrated across
	APIs	IMPORTANT: By November 30th, 2025 you will need to: - Update the URLs in your integration per the tables below. - Notify any third-party services with access to your keys about this change.	All API keys and details will remain the same

Exchange API Changes (Production):

API	Current	New
REST	https://api.exchange.coinbase.com	https://api-us.dma.prime.coinbase.com
FIX - Order Entry 5.0 SP2	tcp+ssl://fix-ord.exchange.coinbase.com:6121	tcp+ssl://fix-us.dma.prime.coinbase.com:7110
FIX - Market Data Snapshot Enabled (FIX 5.0 SP2)	tcp+ssl://fix-md.exchange.coinbase.com:6121	tcp+ssl://fix-us.dma.prime.coinbase.com:7120
FIX - Market Data Snapshot Disabled (FIX 5.0 SP2)	tcp+ssl://fix-md.exchange.coinbase.com:6122	tcp+ssl://fix-us.dma.prime.coinbase.com:7121
Websocket Feed	wss://ws-feed.exchange.coinbase.com	wss://ws-us.dma.prime.coinbase.com
Websocket Direct Feed	wss://ws-direct.exchange.coinbase.com	wss://ws-us-direct.dma.prime.coinbase.com
FIX - Drop Copy	tcp+ssl://fix-dc.exchange.coinbase.com:6122	tcp+ssl://fix-dc.dma.prime.coinbase.com:7122

Exchange API Changes (Sandbox):

API	Current	New
REST	https://api-public.sandbox.exchange.coinbase.com	https://api-us.dma.sandbox.prime.coinbase.com
FIX - Order Entry 5.0 SP2	tcp+ssl://fix-ord.sandbox.exchange.coinbase.com:6121	tcp+ssl://fix-us.dma.sandbox.prime.coinbase.com:7110
FIX - Market Data Snapshot Enabled (FIX 5.0 SP2)	tcp+ssl://fix-md.sandbox.exchange.coinbase.com:6121	tcp+ssl://fix-us.dma.sandbox.prime.coinbase.com:7120
FIX - Market Data Snapshot Disabled (FIX 5.0 SP2)	tcp+ssl://fix-md.sandbox.exchange.coinbase.com:6122	tcp+ssl://fix-us.dma.sandbox.prime.coinbase.com:7121
Websocket Feed	wss://ws-feed-public.sandbox.exchange.coinbase.com	wss://ws-us.dma.sandbox.prime.coinbase.com
Websocket Direct Feed	wss://ws-direct.sandbox.exchange.coinbase.com	wss://ws-us-direct.dma.sandbox.prime.coinbase.com
FIX - Drop Copy	tcp+ssl://fix-dc.sandbox.exchange.coinbase.com:6122	tcp+ssl://fix-dc.dma.sandbox.prime.coinbase.com:7122