Crypto exchange Coinbase may launch a trading platform outside the US following recent crackdowns on crypto firms by US regulators.
As per Bloomberg’s report, Coinbase has yet to decide on the location of the platform. An unnamed source claimed that launching the overseas trading platform will allow Coinbase to expand its global reach.
The report mentioned that Coinbase has already contacted market makers and other partners about the new trading platform.
Coinbase’s Chief Operation Officer Emilie Choi earlier acknowledged that the firm intends to expand its business in more nations. In her words,
“International expansion is going to continue to be a very core part of how [Coinbase] operate[s].”
Brian Armstrong, the CEO of Coinbase, also voiced his support for diversifying the firm’s investments. In line with Armstrong’s statement, Coinbase recently acquired One River Digital Asset Management to onboard institutional investors into the crypto ecosystem.
The news came as Coinbase and other exchanges have come under heightened scrutiny from US regulators.
Coinbase recently announced its plans to amend the terms and conditions of its staking product after March 29. One of the major changes is that clients’ staking rewards will come from the firm’s decentralized protocols instead of its exchange.
Written by
Ayush Pande
Ayush Pande is a hardware, gaming, and crypto writer based in India. He's a tech enthusiast who's fascinated by the potential of blockchain technology.
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