Coinbase International Exchange Launches Non-US Spot Markets

blockchain.news:

One of the most prominent cryptocurrency exchanges situated in the United States, Coinbase, has just announced a considerable increase of its service offerings. It is also important to note that this expansion is geared towards institutional investors located outside of the United States, since they now have access to spot cryptocurrency trading services on the Coinbase International Exchange. In the beginning, the service, which was launched on December 14, 2023, let users to trade Bitcoin (BTC) and Ether (ETH) against USD Coin (USDC).

As a strategic reaction to the ever-changing and unclear regulatory environment in the United States, Coinbase has made the choice to create spot markets in countries other than the United States. A number of asset issuers and members of the cryptocurrency community have shown reluctance to interact with exchanges in the United States as a result of this uncertainty. The new service is intended to meet the specific requirements and expectations of Coinbase's worldwide user base by providing a spot market that is reliable and does not violate any regulations in the United States.

Several stages will be involved in the introduction of spot trading on the Coinbase International Exchange, as well as its further growth. In the beginning, the service is exclusively accessible to institutional customers located outside of the United States via API access. Before beginning to grow the business, Coinbase intends to carefully construct a solid basis and gradually increase the amount of liquidity. The platform will be expanded in the next months to include retail customers, other assets, and features that allow new trading techniques and boost capital efficiency. These enhancements will be made