Coinbase Launches International Crypto Exchange

May 2, 2023

온라인 슬롯 사이트

After openly criticizing the lack of clear regulation in the US Coinbase decided to go international.

International Crypto Exchange

Coinbase, a US-based cryptocurrency exchange, has an international exchange for cryptocurrency derivatives. This move is part of Coinbase’s global expansion strategy. Coinbase’s CEO, Brian Armstrong, has previously expressed concerns about the lack of regulatory clarity for cryptocurrencies in the US. The exchange has now decided to focus on international markets to tap into the growing demand for crypto derivatives.

Today Coinbase launched Coinbase International Exchange and will begin by offering BTC & ETH perpetual futures settled in USDC with up to 5x leverage to institutional clients in eligible jurisdictions outside of the U.S.

— Coinbase 🛡️ (@coinbase)

Features

The international exchange will allow institutional users in eligible jurisdictions outside the US to trade in perpetual futures. The exchange will have a high standard of customer protection and a robust risk management framework. It will offer BTC and ETH perpetual futures contracts, settled in USDC, with up to 5x leverage.

Focusing on International Markets

Coinbase became a public company in the US because it believed the country could embrace fundamental innovation. However, the company has now decided to focus on international markets, where many nations are trying to establish themselves as crypto hubs. Coinbase sees this as an opportunity to make its trusted products and services more accessible to users of digital assets who live outside the US.

Coinbase’s Competition and Regulatory Environment

The launch of the international exchange comes at a time when various crypto exchanges and services are facing increased regulatory scrutiny and uncertainty in the US. Coinbase’s move to Bermuda is being labeled an “expansion” rather than a departure from the US. Coinbase is not alone in seeking offshore expansion, as other crypto exchanges and services have also faced regulatory challenges in the US.

Has the USA finally pushed Crypto offshore?

Coinbase opens an international Derivatives exchange based in Bermuda As It Battles SEC At Home.

It looks like Coinbase could be setting up to say goodbye to the USA as it's home. This comes just weeks after CEO Brian Armstrong…

— Cryptoinsightuk (@Cryptoinsightuk)

Conclusion

Coinbase’s international expansion is a step towards implementing the Go Deep, Go Broad global expansion strategy. The new international exchange will enable Coinbase to offer its trusted products and services to users of digital assets who live outside the US. The launch of the international exchange highlights the regulatory challenges faced by the crypto industry in the US. Coinbase’s move to Bermuda is part of an expansion strategy rather than a departure from the US. As the crypto industry continues to evolve, the regulatory environment will be closely watched.

Check out the latest Crypto News news bellow: