Coinbase Pushes Toward Global Expansion, Sets Sights On Regulated Markets
Digital asset exchange Coinbase sets out plans for a global expansion flagging jurisdictions outside the United States as “near-term priority markets.”
In a recent blog post, the company highlighted several challenges in the US markets citing bottleneck regulations leading to an exodus of both investors and creators.
Nana Murugesan and Tom Duff Gordon, Coinbase’s vice presidents for international business and international policy, noted that the expansion plans will target Canada, the United Kingdom, Australia, Brazil, Singapore, and the European Union.
Going further, the executives noted that these countries are currently edging toward clear rules on digital assets while the United States continues to miss out.
“Every part of the world is seeing progress on crypto-forward regulation except for the U.S., which is opting for a ‘strategy’ of enforcement of existing rules and new regulations through the courts.”
In its expansion plans termed “Go broad, Go deep,” the exchange highlighted the next step to drive products in other markets. The firm would focus on licenses, registrations, and flagging off new operations in the above-mentioned jurisdictions.
The duo also added that they were in the final stages of selecting a MiCA hub in Europe following an established regulatory framework in the continent.
Per the blog post, the exchange is set to expand its “Go Broad” products with “forward-thinking regulators.” The products include the International Exchange launched under the supervision of the Bermuda Monetary Authority and Coinbase Wallet which aims to make web3 safer and more versatile globally.
They further disclosed plans for a working partnership with banks and payment service providers to expand and integrate more systems
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