Coinbase Launches Spot Crypto Trading Services for Institutional Investors
United States-based cryptocurrency exchange Coinbase has announced that institutional investors on its international exchange can now access spot crypto trading services. This means that institutional clients based outside the U.S. will be able to trade Bitcoin (BTC) and Ether (ETH) against USD Coin (USDC). The services will initially launch on December 14 and will later expand to include retail investors, additional tokens, and new trading features.
Coinbase Addresses Regulatory Concerns
Coinbase acknowledges the hesitancy among some asset issuers and members of the crypto community to engage with U.S. exchanges due to the evolving regulatory landscape. By offering these spot crypto trading services on its international exchange, Coinbase aims to address these concerns and cater to its global user base.
Lawsuit and Expansion Plans
It is important to note that Coinbase is currently facing a lawsuit filed by the U.S. Securities and Exchange Commission (SEC) in June, alleging that the firm operates as an unregistered securities exchange, broker, and clearing agency. Despite this legal battle, Coinbase continues to expand its offerings. The company launched its International Exchange in May, initially catering to institutional investors with BTC and ETH perpetual futures trading. In September, Coinbase announced its plans to extend these services to retail traders as well.
Stand With Crypto Initiative
In addition to its business operations, Coinbase’s Stand With Crypto initiative has been actively engaging with prospective voters ahead of the 2024 elections in the United States. As part of this initiative, Coinbase recently hosted a presidential forum where candidates from different political parties discussed various issues related to cryptocurrency and blockchain.
Hot Take: Expanding Opportunities for Institutional Investors
Coinbase’s launch of spot crypto trading services on its international exchange for institutional investors outside the U.S. demonstrates the company’s commitment to expanding opportunities in the crypto market. By providing access to Bitcoin and Ether trading against USD Coin, Coinbase aims to address regulatory concerns and cater to its global user base. Despite facing a lawsuit from the SEC, Coinbase continues to expand its offerings, with plans to include retail investors, additional tokens, and new trading features in the future. Additionally, Coinbase’s Stand With Crypto initiative showcases its dedication to engaging with the crypto community and influencing policy discussions ahead of the 2024 elections.
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