The American crypto exchange Coinbase launched the Coinbase International Exchange, initially offering Bitcoin and Ethereum perpetual futures. The platform’s new move is an attempt to provide worldwide access to digital assets while confronting the friction between the crypto sector and US regulators.
Notably, on May 2, Coinbase officially announced the platform’s global expansion via its official page citing that the Coinbase International Exchange would “enable institutional users based in eligible jurisdictions outside of the US, to trade perpetual futures”:
As per the official announcement, Coinbase believes that the platform’s venture would update the financial system by making Coinbase’s “services accessible to users of digital assets who live outside of the US”.
Notably, the platform asserted that Coinbase’s global approach has been rooted in the realization that most countries across the world are embracing crypto-friendly regulatory systems, focused on the establishment of crypto hubs.
Coinbase added that the company is still committed to the US, recommending the country “take a similar approach instead of regulation by enforcement”.
Interestingly, the crypto community has been grateful to Coinbase for its global entry, acknowledging that “crypto is global”. The news received gobs of appreciation and regard from the crypto aspirants who were overwhelmed by the company’s advancement.
Significantly, Bill Morgan, the digital asset enthusiast, commented on Coinbase International Exchange’s initial offering of “a big percentage of Coinbase’s holdings”:
It is noteworthy that Coinbase believed the present moment is the “right time” to move forward with the international vision, realizing the crypto-friendly approach that the regulators adopt.
