Coinbase (NASDAQ:COIN) may be the largest crypto exchange in the US but its ambitions are global – and with Binance on the decline – its chances are growing
According to an X from yesterday, Coinbase says it now can accept fiat currency from over 130 countries around the world. Coinbase taps into local/regional digital currency providers to allow users to fund accounts on its platform.
According to Coinmarketcap, Coinbase is in second place to Binance in regard to trading volume – albeit pretty far behind. A quick look today shows Coinbase trading $2 billion in the past 24 hours and Binance over $13 billion. But Binance’s recent settlement with US regulators is not the end of its challenges and Coinbase is working to extend its reach to other countries while providing a compliant service. Meanwhile, regulators will be scrutinizing Binance going forward, ensuring AML/KYC rules are enforced. Some users may decide to go elsewhere and Coinbase may be able to pick up some of this trading action.
