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  • Coinbase International has launched spot crypto trading for non-US institutional clients.
  • The move seeks to serve derivatives traders with a compliant exchange outfit.

Coinbase Global Inc., a leading crypto exchange firm in the US has unveiled plans to launch international spot crypto trading for institutional investors through its International Exchange offshoot.

The announcement came via a blog post in which Coinbase outlined its vision for the future, emphasizing its commitment to trust, safety, and ease of use.

Coinbase Introduces Spot Trading for Enhanced Trading Experience 

Since its launch in May, Coinbase International Exchange has witnessed substantial growth and achievements. Over 100 institutions have been onboarded, contributing to approximately $10 billion in perpetual futures trading volume in Q3 alone. 

The exchange expanded its offerings by launching perpetual futures to eligible retail users on Coinbase Advanced in October and listing 15 perpetual contracts covering over 70% of the addressable perpetual futures trading market. Additionally, Coinbase increased the maximum leverage to 10x for all listed contracts.

The latest development in Coinbase’s strategy involves the introduction and expansion of spot trading on Coinbase International Exchange. The spot markets aim to provide a seamless and enhanced trading experience for perpetual futures traders globally, opening doors for more users to access a trusted spot exchange. 

To achieve this, Coinbase plans to locate its servers in more accessible locations worldwide, reducing latency barriers and delivering a best-in-class trading experience for crypto users. According to the post, the launch and expansion of spot trading on Coinbase International Exchange will take place in several phases. 

Starting with the listing of BTC-USDC and ETH-USDC pairs via API access for non-US institutional clients, which took place on December 14, the firm noted that its initial focus is on building liquidity and establishing a robust foundation. However, future phases will include the expansion of the product to include retail users, additional assets, and features to enable new trading strategies and enhance capital efficiency.

The exchange aims to provide a trusted and compliant spot market for eligible non-US participants. However, Coinbase International Exchange is only available in specified jurisdictions and another limitation is that the crypto-derivatives offerings are not offered to retail clients in the United Kingdom.

Coinbase’s Strategic Partnerships

Notably, the update comes only days after the exchange announced a strategic partnership with Conio, a crypto wallet. This partnership extends the platform’s custody solutions, already supporting Bitcoin and Algorand, and enables Italian banks to offer crypto solutions with world-leading liquidity from the trading platform.

Furthermore, Coinbase has revealed plans for Project Diamond, a smart contract-powered platform developed in collaboration with Coinbase Asset Management. Project Diamond targets institutional players, allowing them to create, buy, and sell digitally native assets. 

As Coinbase extends its global reach, the influence on Bitcoin’s price dynamics is expected to be enormous, making it a major catalyst to watch in the coming months. Currently, Bitcoin is up by 1.2% and trading at $42,134, with a market cap of $834 billion, and a trading volume of $21.3 billion.

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