Coinbase Launches Int’l Exchange for Bitcoin & Ether Futures w/ 5x Leverage

Coinbase Launches International Exchange for Bitcoin and Ether Perpetual Futures

• Coinbase recently announced the launch of a new service called Coinbase International Exchange.
• The new platform will enable institutional users outside of the United States to trade bitcoin and ethereum perpetual futures with up to 5x leverage.
• The launch follows Coinbase’s approval to operate its digital currency operations in Bermuda, which was granted by the Bermuda Monetary Authority (BMA).

What is Coinbase International Exchange?

Coinbase’s new international exchange supports perpetual futures settled in USDC with up to 5x leverage to institutional clients in eligible jurisdictions. The company stated that building this global exchange for digital assets will help support an updating of the financial system by making Coinbase’s trusted products and services more accessible to users of digital assets who live outside of the United States. Furthermore, it provides a “liquidation framework that meets rigorous compliance standards” and will include real-time 24/7 trading and liquidity provided by external market makers.

What Led Up To This Launch?

Coinbase received approval from the Bermuda Monetary Authority (BMA) to operate its digital currency operations in Bermuda, which led them to launch their international exchange for Bitcoin and Ether Perpetual Futures. Prior to this, they had also received a Wells notice from the U.S Securities and Exchange Commission (SEC) for potential violations, followed by an action suit against them due to lack of regulatory clarity that they then shared with their public shortly after.

Why Is This Important?

The launch of Coinbase International Exchange is important because it shows that other countries are moving forward with crypto-forward regulatory frameworks while the United States has been taking a more enforcement based approach when it comes to cryptocurrency regulations which has been leading to disappointing trends in development within this sector in America.

Conclusion

In conclusion, Coinbase’s recent move demonstrates how cryptocurrency is becoming increasingly accessible across all markets internationally which can ultimately lead to greater adoption rates on a global scale as well as improved developments within cryptocurrency’s infrastructure both domestically in America as well as abroad.