Popular crypto exchange, Coinbase has launched its international exchange. Announcing the development in its blog post, the launched exchange will offer Bitcoin and Ethereum perpetual futures for its users. According to Coinbase, the move comes as part of its commitment to expand accessibility to digital assets by institutional customers.
It is worthy of note that the launch of the project follows its approval by the Bermuda Monetary Authority (BMA). This approval thus means Coinbase International Exchange will be able to offer perpetual furthers to institutional users in eligible jurisdictions outside the United States. More so, the exchange aims to avail a remarkable standard of customer protection. It also seeks to ensure the deployment of an effective risk management framework.
Additionally, the Coinbase International Exchange wants to bring liquidity, provided by external market makers. According to the firm, its liquidation framework will run in line with existing compliance standards. As part of its commitment to serving users as soon as possible, it listed BTC and Ethereum perpetual futures earlier today. However, the exchange revealed that trading of these futures will only be settled in USDC. This thus means users don’t need fiat on-ramps to trade.
Coinbase seeking to expand its market presence
Coinbase boasted that the launch of the international exchange demonstrates its commitment to expand its market presence. As revealed, it aims to harness the project to advance the financial sector, thereby deploying reliable products capable of expanding the utility and adoption of cryptocurrencies. The exchange expressed optimism in the potential of crypto and blockchain to foster economic freedom across the globe.
Going forward, the exchange reiterates its commitment to partnering with regulators across the globe. Through the partnership, Coinbase aims to consistently launch quality products and solutions, thereby advancing the market. According to the exchange, it decided to run as a public firm in the U.S. so as to better serve users in the country. Worthy of note that the exchange is also seeking to serve users in other countries better.
Meanwhile, the launch of this International Exchange comes amid the ongoing war of words between the U.S SEC and Coinbase. Earlier, the regulator accused the exchange of offering unregistered securities. Just last month, Coinbase approached the Court to mandate clearer regulations from SEC. The CEO of Coinbase, Brian Armstrong heightened the call for clearer regulations last week. He called on the crypto community to join the campaign for the initiation of clearer regulations by authorities.