Coinbase, the largest cryptocurrency exchange in the United States, has announced the launch of an international exchange.
The move comes amid legal disputes with the U.S. Securities and Exchange Commission (SEC), prompting Coinbase to expand its operations globally. The exchange is expanding its reach to institutional clients by offering access to digital assets, including Bitcoin and Ethereum perpetual futures contracts, which will be settled in USDC. This move aligns with Coinbase’s mission to update the financial system by developing reliable products that foster the use and acceptance of cryptocurrencies. The company believes that blockchain technology has the potential to enhance economic freedom and opportunities worldwide.
The new global exchange will offer a high standard of customer protection, a robust risk management framework, and high-performance trading technology. The platform will feature real-time 24/7-365 risk management, with liquidity provided by external market makers and no proprietary trading. It will also offer dynamic margin requirements and collateral assessments and a liquidation framework that meets rigorous compliance standards. The exchange will cater exclusively to institutional clients in eligible non-US jurisdictions, and they can leverage up to 5x while settling all trading in USDC without fiat on-ramps.
Coinbase’s expansion to a global perpetual futures exchange for digital assets aims to make the company’s trusted products and services more accessible to users of digital assets who live outside of the US. Coinbase hopes that the move will support the updating of the financial system by offering trusted, innovative, and accessible financial products and services to all its clients, regardless of location.