Cryptocurrency exchange Coinbase has announced the launch of spot markets outside the US to meet the needs of its global user base and expand international access to services.
The team at Coinbase envisions a future where Coinbase International Exchange becomes a cornerstone of the global crypto ecosystem, offering features that redefine industry standards while staying true to its roots: trust, security and ease of use. Coinbase International Exchange launched in May 2023 and has grown significantly:
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Over 100 institutions were brought on board, with perpetual futures trading volume of around $10 billion in the third quarter alone;
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Listed are 15 perpetual contracts covering more than 70% of the addressable perpetual futures trading market;
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Launching Perpetual Futures to Eligible Retail Users on Coinbase Advanced in October 2023;
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The maximum leverage has been increased to 10x for all contracts listed.
Coinbase increases global access through spot trading
As the company continues to expand its presence on Coinbase International Exchange, the spot markets will provide a seamless, enhanced trading experience for perpetual futures traders and provide global users with greater access to a trusted spot exchange outside the US. By housing servers in more accessible locations around the world, the crypto exchange aims to significantly lower latency barriers and provide an improved trading experience to crypto users worldwide.
The introduction and expansion of spot trading on the Coinbase International Exchange will occur in several phases. On Thursday, December 14, the company will list BTC-USDC and ETH-USDC pairs via API access only for non-US institutional customers. Your primary focus initially will be on building liquidity and establishing a robust foundation. In the near future, Coinbase plans to expand the product to retail users, additional assets and features that enable new trading strategies and improve capital efficiency.
As announced in Phase II of the company's “Go Broad, Go Deep” strategy, they are focused on international expansion through the innovation of more efficient and accessible products and services. Coinbase International Exchange helps provide eligible non-US users with increased access to integrated spot and perpetual futures markets.
Additionally, Coinbase is aware that some asset issuers and members of the crypto community are hesitant to partner with U.S. exchanges due to the evolving and uncertain regulatory landscape in the United States. Coinbase International Exchange provides these participants with a trusted and compliant spot market outside of the United States.
Coinbase International Exchange is only available to non-US customers in select jurisdictions. US customers are strictly prohibited from access. Crypto derivatives are not available to retail customers based in the UK.
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