Coinbase Unveils Spot Crypto Trading, Targets International Institutional Investors
Starting December 14, Coinbase International Exchange’s institutional customers will be allowed to trade Ether and Bitcoin against USD Coin.
Coinbase, a U.S.-founded cryptocurrency exchange, revealed that institutional investors can acquire access to spot crypto trading services on its global exchange.
Coinbase Expand Scope Accommodating Spot Crypto Trading
A December 13 announcement by the exchange revealed that institutional customers based outside the United States will trade Ether and Bitcoin against USD Coin.
According to the exchange, the services would be unveiled on December 14 and, afterward, expanded to incorporate retail investors. Besides, they would include more tokens as well as ‘features that enhance new trading tactics and improve capital efficacy.’
Coinbase said it acknowledges the reluctance among some asset issuers and crypto community members to collaborate with the United States exchanges because of the nation’s changing and ambiguous regulatory environment.
Coinbase Expands Globally Amid Harsh Regulatory Action in US
Coinbase is dealing with a lawsuit filed in June by the United States Securities and Exchange Commission (SEC). The regulator accused the firm of running an unregistered securities exchange, broker, and clearing agency.
Kraken and Binance are other examples of United States exchanges facing the same enforcement interventions by the Securities and Exchange Commission or Commodities Futures Trading Commission (CFTC). The exchanges also face criminal charges by the Justice Department.
Coinbase Leads Crypto Projects in International Expansion
In May, Coinbase unveiled its International Exchange, starting with trading for Ethereum and Bitcoin perpetual futures for institutional investors. The exchange revealed its expansion plans to provide similar services to retail retailers three months ago.
In the U.S., the Stand With Crypto initiative by Coinbase has become involved with potential voters prior to next year’s elections. On December 11, the nonprofit organization held a presidential forum that involved three candidates from opposing political parties deliberating about blockchain and crypto-associated problems.
The expanded scope in Coinbase is critical towards its quest for diversification. The move is aimed at expanding the revenue generation streams that it has traditionally relied upon custodial and trading fees.
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