Coinbase Expands Spot Trading for Non-U.S. Institutions
Coinbase is continuing its efforts to grow its customer base outside the U.S. by allowing non-U.S. institutions to use its cryptocurrency exchange for spot trading. Starting December 14th, Coinbase will list “BTC–USDC and ETH–USDC pairs via API access for non-U.S. institutional clients only.” Additionally, Coinbase’s international arm plans to expand its services to retail customers and add more digital assets to its platform in the coming months.
International Expansion Strategy
Coinbase’s international expansion strategy has been driven in part by its regulatory challenges in the U.S. The company aims to focus on 24 countries, including Brazil, Hong Kong, and the United Arab Emirates.
Growing Adoption and Volume
Since launching internationally, Coinbase has onboarded over 100 institutions with approximately $10 billion in perpetual futures trading volume in the third quarter.
Hot Take: Coinbase Sets Its Sights on Global Expansion
Coinbase’s decision to allow non-U.S. institutions to engage in spot trading through its platform marks another step towards its goal of expanding globally. By targeting international markets, Coinbase aims to overcome regulatory hurdles it faces in the U.S. This move not only allows Coinbase to tap into new customer segments but also increases liquidity and trading volume on its platform. As it continues to add more digital assets and enhance services for retail customers, Coinbase is positioning itself as a leading global cryptocurrency exchange.
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