Coinbase has expanded its services beyond the United States by launching spot trading for Bitcoin and Ether on a global scale. Users outside the U.S. can now access and engage in spot trading activities for these leading cryptocurrencies on the Coinbase platform. This move represents a significant step in Coinbase’s efforts to broaden its offerings and cater to the increasing global demand for cryptocurrency trading.
Crypto exchange Coinbase is set to introduce spot trading for cryptocurrencies outside the United States, marking a significant step in its global expansion initiative. The initial rollout will cater to institutional investors, with plans to extend the feature to retail investors in the coming months, according to a recent blog post by the exchange.
Starting from Thursday, Coinbase’s international exchange will enable institutional clients to engage in spot trading for bitcoin and ether against the USDC stablecoin. While the platform’s primary focus at the outset is building liquidity and establishing a robust foundation, retail investors can anticipate gaining access to these features and additional assets in the following months.
Coinbase’s international exchange, launched in May of the current year, initially functioned solely as a derivatives exchange, a favored trading strategy among crypto investors that faced stringent oversight in the U.S. This move towards global spot trading comes at a time when U.S. regulators are intensifying their scrutiny of crypto companies, including Coinbase, which is currently facing legal action and SEC investigation for alleged violations of federal securities laws. Despite these challenges, Coinbase aims to dismiss the allegations and foster its global presence.