Coinbase International Exchange is gearing up for the next phase of its expansion, announcing the forthcoming launch of non-US spot markets catering to eligible customers worldwide. This strategic move is aimed at meeting the distinctive needs and preferences of the global user base while aligning with Coinbase’s mission to extend international access to reliable products and services.
Since its launch in May 2023, Coinbase International Exchange has witnessed substantial growth, onboarding over 100 institutions with approximately $10 billion in perpetual futures trading volume in Q3 alone. Noteworthy milestones include the introduction of perpetual futures to eligible retail users on Coinbase Advanced in October 2023, listing 15 perpetual contracts covering more than 70% of the addressable perpetual futures trading market, and increasing the maximum leverage to 10x for all listed contracts.
The expansion into spot markets is envisioned to provide a seamless and enhanced trading experience for perpetual futures traders while extending global access to a trusted non-US spot exchange. By strategically locating servers in more accessible global locations, Coinbase aims to significantly reduce latency barriers and offer a best-in-class trading experience for crypto users worldwide.
The rollout of spot trading on Coinbase International Exchange will occur in multiple phases. Starting December 14, BTC-USDC and ETH-USDC pairs will be listed via API access, exclusively for non-US institutional clients. The initial focus will be on building liquidity and establishing a robust foundation. Subsequent phases will see expansions to include retail users, additional assets, and features facilitating new trading strategies and enhancing capital efficiency.
Coinbase emphasizes its commitment to international expansion through the “Go Broad, Go Deep” strategy. The platform aims to innovate more efficient and accessible products and services, providing increased access to integrated spot and perpetual futures markets for eligible non-US users. Acknowledging concerns about the evolving regulatory landscape in the United States, Coinbase International Exchange aims to offer a trusted and compliant non-US spot market for participants seeking a reliable alternative.
Coinbase International Exchange is exclusively available to non-US clients in select jurisdictions, with strict prohibition for access by US clients. Crypto-derivatives are not accessible to retail clients based in the United Kingdom. Regular updates on the launch are anticipated, marking a new era for the global crypto ecosystem.