Coinbase Announces Global Expansion with Spot Crypto Trading Launch Outside the US

According to a Bloomberg report: Following a surge in demand, Coinbase Global Inc. has decided to introduce spot crypto trading on its international exchange. The move comes as part of a global expansion strategy, with the platform acknowledging the hesitation of several users towards US trading venues due to an unclear regulatory environment. Starting Thursday, institutional investors will be able to trade Bitcoin and Ether against the USD Coin (USDC) stablecoin on Coinbase's international platform, which is primarily focused on derivatives, the company announced. Coinbase's Head of Institutional Product, Greg Tusar, emphasized the importance of operating both spot and derivatives trading together during an interview, suggesting that they complement each other in maintaining a deep and liquid market. He regards this as part of an aggressive and promising roadmap. Despite facing a lawsuit from the US Securities and Exchange Commission (SEC) for alleged illegal exchange activities, Coinbase remains committed to its expansion efforts. The SEC's allegations form part of a broader regulatory crackdown that followed several crypto collapses, including the widely reported FTX wipeout. The SEC's lawsuits against other exchanges, including Kraken and Binance, for failing to register with the agency have also created a hazy regulatory outlook in the US, further encouraging Coinbase's international expansion. Coinbase International, launched last May as an effort to diversify from the US market, intends to list more tokens and gradually expand offshore spot trading to retail investors as liquidity increases. SAFUGPT "Coinbase to Roll Out Spot Crypto Trading Internationally Amid Global Expansion" According to a recent announcement, Coinbase Global Inc. is set to introduce spot crypto trading on its international exchange in an effort to broaden its global reach. This initiative comes as some users express concerns about US-based platforms due to the uncertain regulatory landscape in the country. From Thursday, institutional investors will have the opportunity to trade Bitcoin and Ether against the USDC stablecoin on the international exchange, which currently specializes in derivatives, as stated in the company's press release. Greg Tusar, head of institutional product at Coinbase, emphasized the significance of offering both spot and derivatives trading concurrently in an interview, saying "They help each other and ensure there’s a deep and liquid market. It’s part of an aggressive and very exciting roadmap.” This move takes place amidst ongoing legal challenges, with the US Securities and Exchange Commission (SEC) accusing Coinbase of operating an illegal exchange, broker, and clearing agency, claims vigorously denied by the platform. As the regulatory landscape regarding cryptocurrency in the US remains unclear, Coinbase's expansion aims to leverage opportunities beyond the domestic market. Meanwhile, despite some hitches, the crypto market has managed to bounce back partially from a downturn experienced in 2022. Coinbase, which launched its international exchange in May, plans to list more tokens over time and offer offshore spot trading to retail investors as liquidity increases.