Coinbase’s New Institutional Level Crypto Trading
Coinbase, a cryptocurrency exchange based in the US, announced that institutional investors utilizing its global platform outside the US are now able to engage in spot cryptocurrency trading.
Starting from December 14, this service facilitates Bitcoin and Ether trades against USD Coin, with plans for further expansion to encompass retail investors. The objective of this expansion is to introduce additional tokens and tools to diversify trading strategies and improve capital efficiency.
Recognizing apprehensions regarding the regulatory environment in the US, Coinbase highlighted the reluctance of asset issuers and the crypto community to interact with US-based exchanges.
“We acknowledge the reluctance among certain asset issuers and segments of the crypto community to participate in U.S. exchanges due to the continuously changing and uncertain regulatory environment in the United States,” stated Coinbase.
We are excited to announce the next phase of our Coinbase International Exchange expansion – the launch of non-US spot markets for eligible customers, designed to address the unique needs and demands of our global user base. pic.twitter.com/JWEChT5BDa
— Coinbase 🛡️ (@coinbase) December 13, 2023
Amid legal challenges such as the SEC lawsuit, Coinbase initiated its International Exchange in May, initially targeting institutional investors with BTC and ETH perpetual futures. Subsequently, in September, the exchange expanded these services to include retail traders worldwide.
Within the US, Coinbase’s Stand With Crypto campaign involved engaging potential voters before the 2024 elections. The organization hosted a presidential forum on December 11, featuring candidates from various parties deliberating on crypto and blockchain-related topics.
