Coinbase, one of the leading crypto exchanges, has officially launched the Coinbase International exchange, introducing BTC and ETH perpetual futures contracts to its offerings.
In a blog post, the company expressed its commitment to revolutionizing the financial system and expanding the utility and adoption of crypto worldwide. While it initially became a public company in the United States, it now focuses on international markets, with many countries positioning themselves as “crypto hubs.”
The newly launched Coinbase International exchange is designed to cater to institutional clients in non-US jurisdictions. It provides access to perpetual futures trading, which accounted for a significant 75% of global crypto trading volume in 2022.
This move aims to make the company’s trusted products and services more accessible to digital asset users outside of the US, aligning with the growing trend of regulatory frameworks established by various countries.
The exchange’s commitment to customer protection and risk management is evident in the features offered. Real-time 24/7 – 365 risk management, the liquidity provided by external market makers (with no proprietary trading), dynamic margin requirements and collateral assessments, and a compliant liquidation framework are among the high-performance trading technologies implemented.
Coinbase Partners With Bermuda Monetary Authority For Global Expansion
The company has partnered with the Bermuda Monetary Authority (BMA), a respected financial regulator known for its transparency, compliance, and cooperation to ensure compliance with regulatory standards.
The BMA, which maintains strong relationships with regulatory agencies globally, aligns with Coinbase’s mission to work with high-bar regulators worldwide.
The launch of Coinbase International Exchange marks a significant milestone in the company’s global expansion strategy. BTC and ETH perpetual futures contracts are now available for trading on the exchange, with all transactions settled in USDC.
At the start, a leverage of up to 5x is offered, and only institutional clients in eligible, non-US jurisdictions have exclusive access to direct access trading via API. Unfortunately, retail customers are currently unable to utilize these products, according to the blog post.
While the company remains dedicated to its US operations, it highlights the importance of responsible and forward-thinking crypto regulation. It encourages the US to follow the lead of countries embracing crypto-forward regulatory frameworks rather than relying on enforcement-based regulation, which has hindered crypto development in the country.
However, Coinbase’s expansion into the global market with the Coinbase International Exchange represents its commitment to providing the safest and most trusted crypto services worldwide.
Related Reading | Bitcoin: Here’s How BRC-20 Fuelling Rise In BTC Transactions