Coinbase introduces spot crypto trading for institutional investors outside US

Coinbase introduces spot crypto trading for institutional investors outside US

 Starting on December 14, institutional customers of Coinbase International Exchange will have the ability to trade Bitcoin and Ether against USD Coin.

The spot cryptocurrency trading services are now available to institutional investors on Coinbase's international exchange, which is situated in the United States. Institutional clients located outside of the United States will be allowed to trade Bitcoin BTC and Ether against USDC, according to a Dec. 13 release from Coinbase. On December 14, the exchange announced that the services would go live. Later on, retail investors, more tokens, and "features that enable new trading strategies and enhance capital efficiency" would be added.

“We recognize the hesitancy among some asset issuers and members of the crypto community to engage with U.S. exchanges due to the evolving and uncertain regulatory landscape in the United States,” said Coinbase.

    We are excited to announce the next phase of our Coinbase International Exchange expansion - the launch of non-US spot markets for eligible customers, designed to address the unique needs and demands of our global user base. 

 The U.S. Securities and Exchange Commission sued Coinbases in June, alleging that the company acts as an unregistered broker, clearing agency, and securities exchange. Similar enforcement actions by the SEC or Commodity Futures Trading Commission, or criminal charges by the Justice Department, are pending against other U.S. exchanges, such as Binance and Kraken.

In May, Coinbase opened up trading for institutional investors on its International Exchange, starting with trading for Bitcoin and Ethereum perpetual futures. The exchange declared in September that it will grow to provide retail traders with the same facilities.

Prior to the 2024 elections, Coinbase's Stand With Crypto program in the US been interacting with potential voters. The group held a presidential discussion on December 11 at which three contenders from rival political parties spoke about topics pertaining to blockchain and cryptocurrency.

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