By: Isha Das
Coinbase International, in its recent global expansion move, has announced the commencement of spot trading of Bitcoin (BTC) and Ethereum (ETH) for non-U.S. clients starting Dec. 14. The institution, in a statement, shared the intention to pair these leading cryptocurrencies with USD Coin (USDC), a stablecoin. The service will initially cater exclusively to non-U.S. institutional clients through API access.
Targeting its global expansion efforts, Coinbase aims to progressively include retail users, additional assets, and features that promote new trading strategies and enhance capital efficiency. Amid the regulatory challenges in the United States, the cryptocurrency exchange continues to focus on broadening its services abroad. Backing this, the company launched an international arm in May to provide a trusted and compliant non-US spot market.
Despite legal disputes with U.S. Securities and Exchange Commission and accusations of listing multiple securities tokens unlawfully, Coinbase stands firm in contesting these allegations and advocates for explicit regulations tailored to the burgeoning industry. This led the platform to the successful growth of Coinbase International, having processed nearly $10 billion in perpetual futures trading volume in Q3 alone, and adding over 100 institutional clients to its platform.
© BlockBriefly. All Rights Reserved.