Coinbase, the major American crypto exchange, is expanding its trading services Spot trading for global institutional clients.
Starting today, the trading platform offers direct buying and selling of Bitcoin (BTC) and Ethereum (ETH) to organizations outside the United States, including the Netherlands.
The crypto exchange aims to serve the crypto trading needs of large organizations outside of America. Coinbase acknowledges traders’ reluctance regarding uncertain US regulations and states:
“We recognize 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.”
We are excited to announce the next phase of our Coinbase International Exchange expansion – the launch of non-US spot markets for eligible customers tailored to the unique needs and requirements of our global user base. pic.twitter.com/JWEChT5BDa
— Coinbase 🛡️📞 (@coinbase) December 13, 2023
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Crypto spot trading on the international market
Coinbase previously launched derivatives trading on the international arm of the exchange. Spot trading is now available to institutional clients outside the US.
The crypto exchange emphasizes that it initially wants to lay a strong foundation with Bitcoin and Ethereum and later expand the spot range with additional assets.
Coinbase also plans to expand its crypto spot trading services to retailers worldwide in the coming months.
The trading platform reports that it plans to gradually introduce trading services to the global market. Functions are also being worked on to enable new trading strategies.
Coinbase problems with authorities
This strategic move by Coinbase comes after cryptocurrency exchange FTX went bankrupt in 2022 and Binance recently had to settle for $4.3 billion. American crypto exchanges are increasingly facing legal hurdles.
In the US, Coinbase itself was also sued by the US Securities and Exchange Commission (SEC) this summer. According to the SEC, Coinbase is guilty of offering unregistered securities.
The listed crypto exchange recently reported that it does not plan to launch its own crypto, as many competitors have done. Still, Coinbase (COIN) shares have surged recently thanks to the rising crypto market.
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