Coinbase Goes Global with New International Crypto Exchange

May 2, 2023

MCP News Free

Coinbase Goes Global with New International Crypto Exchange

Key Points

The exchange will allow institutional users in “eligible jurisdictions outside of the US to trade perpetual futures.”
On Tuesday, the exchange listed BTC and ETH perpetual futures contracts

Before the recent regulatory crackdown, crypto firms have been expanding to the US market hoping for love and acceptance by the people and the government; unfortunately, the current crackdown on crypto and crypto-related firms has reshaped their thoughts, and now many are looking beyond the walls of the US, planning to go far beyond the sight of Gary Gensler.

Coinbase Goes Global

Coinbase, the largest cryptocurrency exchange in the US, is planning to look beyond the US market and has decided to launch an international crypto exchange that will let institutional users outside the US (but in eligible jurisdictions) trade perpetual futures, Coinbase said in a Tuesday blog post.

“Building out a global perpetual futures exchange for digital assets will help support an updating of the financial system by making Coinbase’s trusted products and services more accessible to users of digital assets who live outside of the US,” a statement from the release stated.

For regulatory approval of the exchange, Coinbase worked with the Bermuda Monetary Authority (BMA); Coinbase is pleased to work with BMA not only because of its popularity for its high level of compliance, transparency, and cooperation but also for its members as part of several international organizations and also its romantic relationship with the regulators of various countries and regions globally.

Recall that Coinbase Chief Brian Armstrong has hinted at the possibility of Coinbase leaving the US market; this is because of the unhealthy environment created recently by the US financial regulators. For instance, in March, Armstrong Coinbase received a Well Notice and possible litigation from the Securities and Exchange Commission in the US over possible violation of US federal laws, Paxos has been order to stop minting BUSD, and Kraken was sued on its staking services, this is just a few of the struggles of crypto firms with US regulators.

Although the blog post affirmed Coinbase’s continued commitment to the US market, its global expansion plan is to be the safest and most trusted crypto in the entire universe.

Here is a sexy offer for you;

Become a member of a thriving crypto community through the information and education from experts, our Paradise Team is a group of experts with more than 6 years of experience in trading cryptocurrency.

We trade BTC, ETH and other trending altcoins in our ParadiseFamilyVIP on Binance, OKX, Kucoin, Bybit and Bitmex exchanges.

Use PRO20% for your special 20% discount before the promo expires. Click here to see reviews from happy clients.

Join our telegram channels where we share our FREE updates and analysis on coins like BTC, ETH, and other trending altcoins. We also share our FREE secret insights. And also FREE market updates.