Coinbase International Exchange is set to introduce spot markets.
Coinbase (NASDAQ:COIN) has officially announced the next phase of their Coinbase International Exchange expansion – the launch of non-US spot markets “for eligible customers.”
This latest development is designed to address “the unique needs and demands of our global user base while reinforcing our strategic mission to expand international access to trusted products and services.”
Coinbase International Exchange launched in May 2023 and has “grown significantly” in recent months:
- Onboarded over 100 institutions, with approximately $10 billion in perpetual futures trading volume in Q3 alone.
- Launched perpetual futures to eligible retail users on Coinbase Advanced in October 2023
- Listed 15 perpetual contracts that cover more than 70% of the addressable perpetual futures trading market
- Increased maximum leverage to 10x for all listed contracts
As Coinbase continue to expand their global presence with Coinbase International Exchange, spot markets will aim to “deliver a seamless, enhanced trading experience for perpetual futures traders and provide global users with greater access to a trusted non-US spot exchange.”
By locating their servers in more accessible locations globally, they aim “to significantly lower latency barriers” and deliver a good trading experience for crypto users worldwide.
The launch and expansion of spot trading on Coinbase International Exchange “will occur over several phases.”
On Thursday, December 14, they are “listing BTC-USDC and ETH-USDC pairs via API access for non-US institutional clients only.”
Their primary focus at the outset will be to “build liquidity and create a robust foundation.”
In the coming months, they plan to “expand the product to include retail users, additional assets, and features that enable new trading strategies and enhance capital efficiency.”
As announced in Phase II of our “Go Broad, Go Deep” strategy, they are focused on international expansion through the innovation of “more efficient and accessible products and services.”
Coinbase International Exchange helps “provide increased access to integrated spot and perpetual futures markets for eligible non-US users.”
In addition, they recognize the hesitancy “among some asset issuers and members of the crypto community to engage with US exchanges due to the evolving and uncertain regulatory landscape in the United States.”
Coinbase International Exchange claims that it offers “a trusted and compliant non-US spot market for those participants.”
Coinbase International Exchange is “only available to non-US clients in select jurisdictions.”
US clients are “strictly prohibited from access.”
Crypto-derivatives are “not available to retail clients based in the United Kingdom.”