Coinbase Looks Beyond The US With International Exchange – Crypto News – Crypto News
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Coinbase Looks Beyond The US With International Exchange Coinbase Looks Beyond The US With International Exchange

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Coinbase Looks Beyond The US With International Exchange – Crypto News

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Coinbase is the latest major exchange to launch an offering specifically for non-US customers.

Coinbase International, which launched today, will initially serve institutional clients, according to a posts fromcompany. The exchange offers perpetual swaps, a derivative similar to a futures contract, on ETH and BTC with leverage of up to five times.

The company’s stock price jumped over 4% on the news, according to The Defiant Terminal, The QQQ, which tracks the Nasdaq 100, is down nearly a percentage point in that same span.

The international exchange is part of Coinbase’s broader plans to develop its presence outside of the US, which the company outlined last year.

Coinbase’s attempt to woo international customers comes on the heels of similar moves by other American companies.

Gemini, which is US-based and is the ninth biggest crypto exchange by volume, Launched a non-US derivatives platform just yesterday.

Kraken, the third largest exchange by volume, which settled a lawsuit with the SEC last year, registered a subsidiary with the Central Bank of Ireland last month with an eye towards serving European clients.

Coinbase, which is already included in multiple legal tussles with the SEC, it is showing that it, too, is willing to look beyond its home market. With major US companies looking to develop their businesses elsewhere, pressure could mount on US lawmakers to make the country’s laws friendlier to blockchain-enabled companies.

The company cited efforts by other jurisdictions to become “crypto hubs” as a reason to expand its business internationally. And there is evidence of progress in crypto regulation outside of the United States — the European Union recently passed MiCA, which aims to provide regulatory clarity for blockchain companies operating in the bloc.

signaled hong kong in March that it will clarify how companies may register as Virtual Asset Service Providers (VASPs), a designation developed by the Financial Action Task Force, an intergovernmental organization. Kraken has registered as a VASP in Ireland.

The United Arab Emirates has also been developing its crypto presence — Bybit, the seventh largest crypto exchange, declared Its new headquarters in Dubai just last month.

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