Coinbase, a leading U.S.-based cryptocurrency exchange, is expanding its offerings to include spot crypto trading services for institutional investors on its international platform.
The exchange announced on Dec. 13 that beginning Dec. 14, institutional clients from outside the United States will have the opportunity to trade Bitcoin and Ether against USD Coin. Coinbase aims to eventually broaden these services to retail investors, add more tokens, and introduce new features that enhance trading strategies and capital efficiency.
Addressing concerns within the crypto community, Coinbase stated:
We recognize the hesitancy among some asset issuers and members of the crypto community to engage with U.S. exchanges due to the evolving and uncertain regulatory landscape in the United States.
Coinbase is currently navigating a lawsuit from the U.S. Securities and Exchange Commission, filed in June, alleging that the exchange functions as an unregistered securities exchange, broker, and clearing agency. Other U.S. exchanges, like Binance and Kraken, are also contending with similar regulatory challenges and enforcement actions.
The International Exchange of Coinbase was launched in May, initially offering BTC and ETH perpetual futures trading to institutional clients. By September, the platform announced plans to extend these services to retail traders.
Within the U.S., Coinbase’s Stand With Crypto initiative focuses on voter engagement ahead of the 2024 elections. On Dec. 11, the campaign hosted a presidential forum where candidates from various political parties discussed topics related to cryptocurrency and blockchain technology.