On Coinbase’s international platform, institutional clients now have access to spot crypto trading services, being able to trade Bitcoin and Ether against USD Coin starting on Dec. 14.
Coinbase announced on December 13 that institutional clients outside the United States can exchange USD Coin for Bitcoin and Ether.
After their initial release on December 14, the exchange plans to extend the services to encompass additional tokens, retail investors, and “functionalities that facilitate novel trading strategies and optimize capital efficiency.”
“We recognize the hesitancy among some asset issuers and crypto community members to engage with U.S. exchanges due to the evolving and uncertain regulatory landscape in the United States,” said Coinbase.
The United States Securities and Exchange Commission filed suit against Coinbase in June, alleging that the company functions as an unregistered broker, clearing agency, and securities exchange.
Additional exchanges in the United States subject to comparable enforcement measures by the SEC or Commodity Futures Trading Commission or criminal prosecutions by the Justice Department are Binance and Kraken.
Coinbase inaugurated its International Exchange in May, initially catering to institutional investors trading perpetual futures on BTC and ETH. The exchange declared its intention to extend its services to retail dealers in September.
Coinbase’s stand With Crypto initiative has actively involved potential electors in the United States before the 2024 elections. The organization hosted a presidential forum on December 11, during which three candidates affiliated with opposing political parties engaged in discussions on blockchain and cryptocurrency.
