Coinbase, a major cryptocurrency exchange, is set to extend its services internationally by offering spot trading of cryptocurrencies outside the United States. As revealed in a recent blog post, this development is part of the company’s ongoing global expansion strategy.
Beginning Thursday, Coinbase’s international exchange will enable institutional customers to spot trade Bitcoin and Ether, using the USDC stablecoin as the base. However, retail investors will need to wait a few more months for the opportunity to engage in similar trading activities. Additionally, the platform plans to introduce other assets in the future.
Coinbase emphasized its initial focus on building liquidity and establishing a solid foundation for its international exchange operations. This strategic approach aims to ensure a robust and efficient trading environment for its users.
The international arm of Coinbase was launched in May this year, initially functioning solely as a derivatives exchange. Derivatives trading is popular among crypto investors but requires extensive regulatory oversight in the U.S.
This expansion comes when U.S. regulators intensify their scrutiny of cryptocurrency companies, including Coinbase. The exchange has faced legal challenges and is under investigation by the U.S. Securities and Exchange Commission (SEC) for alleged violations of federal securities laws. Coinbase has moved to dismiss these allegations, continuing to navigate the complex regulatory landscape while expanding its global presence.