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Coinbase Unveils International Exchange For Bitcoin And Ether Perpetual Futures

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The San Francisco-based cryptocurrency exchange Coinbase has recently announced the introduction of a new service known as Coinbase International Exchange. Institutional clients from eligible jurisdictions will now be able to trade Bitcoin and Ethereum perpetual futures through the new platform, as announced by Coinbase.

The company announced that its institutional clients in eligible jurisdictions can now access perpetual futures settled in USDC with up to 5x leverage.

Coinbase Unveils New 5x Leverage Perpetual Futures Contracts For Bitcoin And Ethereum

Following the Bermuda Monetary Authority’s (BMA) approval for the company to run its virtual currency operations in Bermuda, Coinbase International Exchange was officially launched.

Coinbase stated in a blog post that the launch of a global perpetual futures exchange for digital assets would facilitate the upgrading of the financial system. It will expand the accessibility of the company’s reliable services and products to digital asset users residing outside of the United States.

Coinbase remarks that the launch of their international exchange is timely, as they observe an increasing number of markets adopting regulatory frameworks and positioning themselves as cryptocurrency centers.

According to the company, the Coinbase International Exchange offers a “liquidation framework that meets rigorous compliance standards” and will feature real-time, round-the-clock trading and liquidity offered by outside market makers.

The announcement follows a Wells notice that the U.S. Securities and Exchange Commission (SEC) sent to Coinbase regarding possible violations. As a result of the letter, Coinbase promptly shared its Wells response with the public and initiated a lawsuit against the SEC for lack of regulatory clarity.

Coinbase observes that other jurisdictions are advancing with crypto-forward regulatory frameworks, but it would prefer to see the United States adopt a similar strategy as opposed to regulation by enforcement, which has resulted in a discouraging trend for the development of crypto in the nation.

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