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Coinbase Launches Spot Trading of Bitcoin and Ether Outside the U.S.
The feature will initially launch for institutional investors but will be rolled out for retail investors in the coming months, the exchange said.
Updated Mar 9, 2024, 2:16 a.m. Published Dec 13, 2023, 4:44 p.m.
Crypto exchange Coinbase will soon be offering the option to spot trade cryptocurrencies outside of the U.S. as part of its global expansion efforts, the company announced in a blog post Wednesday.
Starting Thursday, Coinbase’s international exchange will allow institutional customers to trade bitcoin and ether against the USDC stablecoin. Retail investors will have to wait a few more months to do the same and for other assets to be rolled out on the platform.
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“Our primary focus at the outset will be to build liquidity and create a robust foundation,” the company stated.
Coinbase’s international exchange launched in May of this year, initially only as a derivatives exchange, a popular trading strategy among crypto investors that requires hefty oversight in the U.S.
The move came at a time where regulators in the U.S. started to heavily crack down on crypto companies, including Coinbase itself, which was sued and is still under investigation by the Securities and Exchange Commission (SEC) for allegedly violating federal securities laws. The exchange has moved to dismiss those allegations.
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Solana CME Futures Fell Short of BTC and ETH Debuts, but There's a Catch
When adjusted for asset market capitalization SOL's relative futures volume looks better, K33 Research noted.
What to know:
- Solana's SOL futures began trading on the Chicago Mercantile Exchange (CME) on Monday, with a notional daily volume of $12.3 million and $7.8 million in open interest, significantly lower than the debuts of bitcoin (BTC) and ether (ETH) futures.
- Despite the seemingly lackluster debut, when adjusted to market value, SOL's first-day figures are more in line with BTC's and ETH's, according to K33 Research.
- Despite the bearish market conditions, the launch of CME SOL futures offers new ways for institutions to manage their exposure to the token, said Joshua Lim of FalconX.
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