Coinbase International, a leading cryptocurrency exchange, is set to expand its services by offering spot trading for Bitcoin (BTC) and Ethereum (ETH) starting on December 14. This move is part of the exchange’s global expansion strategy, aimed at building liquidity and creating a robust foundation for future growth.
Coinbase International’s primary focus initially will be on building liquidity and establishing a strong foundation for its expanded trading services. The exchange plans to pair the top cryptocurrencies, Bitcoin and Ethereum, with the USD Coin (USDC) stablecoin. This pairing will enable users to trade these digital assets more efficiently and securely. To access these trading services, users will need to utilize the exchange’s API.
In the early stages, Coinbase International will cater exclusively to non-US institutional clients. By targeting this specific client base, the exchange aims to provide a trusted and compliant spot market for participants who may be hesitant to engage with US exchanges due to the evolving and uncertain regulatory landscape in the United States.
Coinbase’s expansion plans come at a time when the exchange is facing a significant legal dispute with the US Securities and Exchange Commission (SEC). The regulatory body has accused Coinbase of operating an unlawful platform and listing multiple securities tokens. Similarly, the SEC has filed lawsuits against other major exchanges like Binance and Kraken.
Despite these allegations, Coinbase has strongly contested the claims and has advocated for the SEC to establish specific regulations tailored to the emerging cryptocurrency industry. The exchange acknowledges the impact of these regulatory challenges on its relationship with asset issuers and the wider crypto community.
Coinbase International was launched in May to provide a trusted and compliant non-US spot market for participants. Since its inception, the platform has experienced significant growth, processing nearly $10 billion in perpetual futures trading volume in Q3 alone. Additionally, Coinbase International has successfully onboarded over 100 institutional clients, solidifying its position as a leading international cryptocurrency exchange.
Looking ahead, Coinbase International has outlined its future plans for expansion. The exchange intends to gradually expand its trading services to include retail users, additional assets, and new features that will enable different trading strategies and enhance capital efficiency. By continuously improving its product offering, Coinbase International aims to meet the diverse needs of its growing user base.
Coinbase International’s decision to offer spot trading for Bitcoin and Ethereum, along with its ongoing global expansion efforts, showcases the exchange’s commitment to providing a trusted and compliant trading platform for both institutional and retail users worldwide. By addressing liquidity, regulatory challenges, and user needs, Coinbase International aims to maintain its position as a pioneer in the cryptocurrency industry.
