Coinbase Expands Bitcoin and Ether Spot Trading Globally

Jonathan Stoker Dec 13, 2023, 18:20pm 138 views

Coinbase Expands Bitcoin and Ether Spot Trading Globally

Coinbase to offer cryptocurrency spot trading internationally

Popular cryptocurrency exchange, CoinbaseCoinbase, has announced its plans to provide an option for spot trading of cryptocurrencies beyond U.S. borders, marking a substantial step in its global expansion initiatives.

Coinbase's International Exchange opens up to institutional customers

As of Thursday, institutional customers will have the ability to trade prominent cryptocurrencies such as bitcoin and ether against the USDC stablecoin on Coinbase's international exchange. Retail investors, however, will have to wait a few more months for the same opportunities and for the introduction of other assets on the platform.

Building a robust foundation for the future

Coinbase's primary initial focus will be to construct liquidity and establish a robust foundation. The international exchange of the company, which launched in May this year, originally began solely as a derivatives exchange. This trading strategy is favored among cryptocurrency investors, but requires substantial oversight in the U.S.

This strategic move by Coinbase comes at a time of increasing scrutiny from U.S regulators towards crypto businesses, including Coinbase. The exchange has faced a lawsuit and ongoing investigation from the Securities and Exchange Commission (SEC) for alleged violations of federal securities laws. Coinbase, however, has taken steps to dismiss these allegations.

Edited by Jonathan Stoker

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