- Coinbase announced the launch of a non-U.S. spot market for institutional investors.
- Eligible institutional investors outside the United States will be able to access BTC/USDC and ETH/USDC on the Coinbase International Exchange starting December 14, 2023.
- The exchange plans to expand its products to individual investors in the coming months.
cryptocurrency exchange coinbase Announced expansion of non-U.S. spot market offerings for institutional investors.
Coinbase expands non-U.S. spot markets to include institutional investors
to presentation Announced on December 13, the US-based cryptocurrency platform said it had launched a Bitcoin and Ethereum spot trading market for qualified institutional customers using Coinbase International Exchange.
The asset is traded against USDC, with BTC/USDC and ETH/USDC available starting Thursday, December 14th.
Institutional customers outside the United States can access these pairs via API.
We are excited to announce the next step in Coinbase’s international exchange expansion: the launch of a non-U.S. spot market for eligible customers, designed to address the unique needs and demands of our global user base. pic.twitter.com/JWEChT5BDa
— Coinbase 🛡️📞 (@coinbase) December 13, 2023
According to the exchange, this expansion is part of its plan to address the unique needs and demands of its global user base while strengthening its strategic mission to provide trusted products and services to its customers.
Coinbase will initially focus on building liquidity and establishing a strong foundation for listed spot markets outside the United States. However, the plan is to steadily expand this product to retail investors and add more cryptocurrency assets in the coming months.
The exchange will also unveil features designed to allow new trading strategies to improve capital efficiency.
Coinbase launched its international exchange in May this year. regulatory crackdown By the U.S. Securities and Exchange Commission (SEC). Since then, the platform reportedly has more than 100 organizations participating.
According to today’s update, Coinbase’s international platform recorded nearly $10 billion in perpetual futures trading volume in the third quarter alone.
Growth included l.Perpetual Futures Now Available for Eligible Retail Users on the company’s Coinbase Advanced. The exchange also listed 15 perpetual contracts, which account for “more than 70% of the addressable perpetual futures trading market,” the press release said.