Coinbase Unleashes Spot Trading for Non-US Users!

Coinbase Expands Spot Trading Capabilities to International Customers

Coinbase offers spot trading options for non-US customers.

Well, well, well, crypto enthusiasts! Our favorite American crypto exchange, Coinbase Global Inc (NASDAQ: COIN), has just rolled out a new surprise for all you international users out there. They’ve introduced spot trading options for customers outside the United States. Talk about spreading the crypto love across borders!

In an official announcement on December 13, 2023, Coinbase revealed that this move is part of their global expansion plans. They want to give their customers in other regions a taste of their top-notch services. And boy, are we excited about it!

The new trading option, conveniently named “Coinbase Intentional Exchange,” is tailored for non-US users while complying with international anti-money laundering (AML) and Know-Your-Customer (KYC) rules. Ah, regulations, the necessary evil for building trust and legitimacy in the crypto world.

But why this sudden expansion, you may ask? Well, Coinbase acknowledges the hesitancy among some asset issuers and members of the crypto community to engage with US exchanges. It’s understandable, considering the evolving and uncertain regulatory landscape in the United States. So, they’re making it easier for everyone to hop on board the crypto train, irrespective of their location.

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Starting today, December 14, Coinbase kicks it off with Bitcoin (BTC) and Ethereum (Ether) trading options against the USDC stablecoin. They’re starting strong, folks! And fear not, other cryptocurrencies will take their place in the spotlight in the coming months. Coinbase wants to build that liquidity and create a rock-solid foundation before diving into the deep ocean of digital assets.

Now, hold your horses, folks! The spot trading feature is currently limited to institutional users, but Coinbase has grand plans for the future. They’re looking to expand these amazing trading options to include retail customers too. That means you, me, and everyone who just can’t resist the allure of crypto!

But wait, there’s more! Coinbase is all set to introduce more exciting features. They’re cooking up new trading strategies that will enhance capital efficiency and make your crypto journey even more convenient and profitable. Get ready to level up your trading game, my friends!

Seems like Coinbase has been working hard on this international venture since May when they launched their Coinbase International Exchange. Back then, they introduced BTC and ETH perpetual futures, catering exclusively to their institutional customers. But they wouldn’t leave us regular folks hanging, would they? Of course not!

In September, Coinbase obtained regulatory approval to extend its services to retail traders like you and me. That’s right, we can now dive into the thrilling world of spot trading and regulated perpetual futures contracts. Well, almost all of us. Sorry, UK crypto enthusiasts, you’re temporarily excluded from trading crypto derivatives. But hey, let’s hope that changes soon!

“It’s really important to have both spot and derivatives trading side by side. They help each other and ensure there’s a deep and liquid market. It’s part of an aggressive and very exciting road map,” said Greg Tusar, head of institutional product at Coinbase, in an interview. So buckle up, folks, and get ready for the ride!

Now, before you go hopping onto this international platform, be aware that it’s available only in selected jurisdictions outside the United States. But don’t let that deter you. If your jurisdiction is in the list, my friend, you’re in for some crypto-fueled fun!

Ah, the United States, the land of the free…. Well, not so much when it comes to crypto regulations. Coinbase’s global expansion is driven by the regulatory uncertainties that plague the US. Come on, Uncle Sam, we need clear rules, a roadmap, anything to navigate this endless maze of legal confusion!

Thankfully, lawmakers across the country have been drafting bills to regulate stablecoins and the entire crypto market. But, and here’s the kicker, those laws might be delayed until 2024. That’s right, we gotta wait a bit longer for that much-needed clarity. Fingers crossed, my crypto comrades!

In the meantime, let’s make the most of Coinbase’s brilliant move to bring spot trading to non-US users. I can’t wait to see how this international adventure unfolds. How about you? Ready to explore new horizons and make some amazing crypto trades? Let me know in the comments below!

Link to the original article: Coinbase Global Inc Introduces Spot Trading for International Users

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