According to Bloomberg, Coinbase, the largest cryptocurrency exchange in the United States, will launch spot crypto trading on its international exchange as part of its global expansion.
Accordingly, Coinbase announced in its statement that it will support spot cryptocurrency trading for investors in markets outside the USA.
Coinbase said in its statement that some users are wary of crypto platforms in the USA due to the uncertain regulatory situation of the USA:
“We are excited to announce the next phase of our Coinbase International Exchange expansion.
At this point, we are launching spot trading outside the US for eligible customers, designed to meet the unique needs and demands of our global user base.
We will support Bitcoin and Ethereum spot trading on a global platform currently focused on supporting derivatives.
Institutional investors will be able to trade BTC and ETH against the USDC stablecoin starting Thursday.”
We are excited to announce the next phase of our Coinbase International Exchange expansion – the launch of non-US spot markets for eligible customers, designed to address the unique needs and demands of our global user base. pic.twitter.com/wmVHwgxhHI
— Coinbase International Exchange 🛡️ (@CoinbaseIntExch) December 13, 2023
Greg Tusar, head of institutional product at Coinbase, said: “It's really important to have both spot and derivatives trading side by side. They help each other, and supporting both spot and derivatives trading in terms of liquidity sharing is very important. This is part of an aggressive and very exciting roadmap.” said.
Coinbase is striving to have a presence in markets outside the US by opening a global platform in May.
*This is not investment advice.
