Coinbase International now allows spot trading for institutional investors

The international arm of the Coinbase exchange announces the rollout of their crypto spot trading service for non-US institutions only.

Coinbase International Exchange announces the opening of spot trading to users outside the United States

In a press release published on December 13, 2023, Coinbase announces access to the services from crypto trading on accountt for their users eligible and non-US institutions.

As a reminder, the international division of Coinbase (Coinbase International Exchange) was launched in May last year. It aims to internationalize the company to “meet unique needs and requirements” and “expand international access to reliable products and services.”

Coinbase announces spot trading services will be available on the exchange from 14 December. Initially only peers BTC-USDC and ETH-USDC will be available “only to non-US institutional clients.”

“Our primary focus will be on establishing liquidity and creating a solid foundation. Over the coming months, we plan to expand the product to include retail users, additional assets and features that enable new trading strategies and improve capital efficiency.” they declare.

Coinbase will catch up with Binance and is moving away from the US

Since launching last May, Coinbase has reportedly attracted more from 100 institutions on their international trading platform. As a result, more than 10 billion dollars trade was only recorded in the third quarter.

They also launched perpetual contracts in October last. As these contracts are increasingly valued by traders in DeFi, the numbers should continue to grow for CIE. They also listed more than 15 perpetual contracts and increased leverage up to 10x their original amount.

According to them, they want to offer “a smooth and improved trading experience for perpetual futures traders”. In fact, despite higher fees than the competition, Coinbase’s strength is in its user experience. An asset that could allow Coinbase to catch up with Binance internationally.

Especially since regulators have just dealt a serious blow to the exchange, which CZ is co-founded by. It is in this context that Coinbase claims to offer a platform that is “trusted, secure and easy to use.” According to them, international exchanges suffer from this regulatory uncertainty in the US.

“Furthermore, we recognize the reluctance of some asset issuers and members of the crypto community to engage with US exchanges due to the evolving and uncertain regulatory landscape in the US. Coinbase International Exchange provides a reliable and compliant non-US cash market for these participants.”

Coinbase appears to be conducting a crusade outside the US. This is why they announced their international expansion strategy called “Phase II “Go Wide, Go Deep””. According to them, β€œ83% of the main crypto hubs provide increasing regulatory clarity”. The US is probably not part of it yet.


Source: TheBlock


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