America’s largest cryptocurrency exchange is now offering perpetual futures contracts to residents of eligible jurisdictions.
Cryptocurrency exchange Coinbase has launched the “Coinbase International Exchange,” a move that reinforces the company’s hints of increased investment in territories outside the United States.
The platform aims to enable institutional investors residing in eligible jurisdictions outside the United States to trade perpetual futures contracts. Settled in USDC, the exchange offers direct access to trading via an API for institutional clients in eligible non-US jurisdictions. Coinbase’s States The international exchange also offers a high level of customer protection, a robust risk management framework, and high-performance trading technology.
“Building a permanent global futures exchange for digital assets will help support the modernization of the financial system by making trusted Coinbase products and services more accessible to users of digital assets who live outside the United States,” said Coinbase.
Perpetual BTC futures contracts on the new exchange offer up to 5x leverage.
The first signs of an international platform rollout came in March, when a source was cited in Bloomberg a report Detailed “the possibility of creating an alternative venue — away from the main Coinbase marketplace — for global clients.”
Soon after, in April, Coinbase CEO Brian Armstrong said “I think if it goes by several years where we don’t see regulatory clarity emerging in the US, we may have to consider increasing investment in other regions of the world,” potentially hinting at the development of More platforms dedicated to serving those outside of America.
“Rest assured that Coinbase is committed to the United States, but countries around the world are increasingly moving forward with responsible crypto regulatory frameworks forward to strategically position themselves as digital currency hubs,” the company statement reads.
The company, along with several other US cryptocurrency firms, has faced increasing scrutiny from US regulators such as the SEC and CFTC. The release of Coinbase’s international exchange shows that investment in the industry will continue to gravitate toward the friendliest jurisdictions.
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