Benzinga - Coinbase International Exchange on Wednesday announced the introduction of non-US spot markets, marking a new phase in its expansion.
This move is aimed at catering to the diverse needs of its international clientele and aligns with Coinbase Global Inc's (NASDAQ: COIN) strategic goal of broadening global access to reliable crypto products and services.
According to a company blog post on Wednesday, since its launch in May 2023, Coinbase International Exchange has seen substantial growth, with the platform having onboarded over 100 institutions and reported approximately $10 billion in perpetual futures trading volume in the third quarter alone.
In October 2023, it extended perpetual futures to eligible retail users on Coinbase Advanced and listed 15 perpetual contracts, covering over 70% of the addressable perpetual futures trading market.
Additionally, the exchange has increased the maximum leverage to 10x for all listed contracts.
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The introduction of spot markets on Coinbase International Exchange seeks to enhance the trading experience for perpetual futures traders and provide a more accessible non-US spot exchange for global users.
Placing servers in globally accessible locations, Coinbase aims to significantly reduce latency barriers, offering a superior trading experience for crypto users worldwide.
The rollout of spot trading will occur in several phases.
Starting Thursday, Dec. 14, Bitcoin (CRYPTO: BTC) BTC-USDC and Ether (CRYPTO: ETH) ETH-USDC pairs will be listed via API access exclusively for non-US institutional clients.
The initial focus will be on building liquidity and establishing a solid foundation.
Over the coming months, the exchange plans to broaden its offerings to include retail users, additional assets, and features that facilitate new trading strategies and improve capital efficiency.
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