Coinbase, the well-known American cryptocurrency company, just dropped some major news: the launch of its newest exchange, "Coinbase International."
Thanks to a recent regulatory license approval from the Bermuda Monetary Authority, this new platform will allow Coinbase to operate globally and expand its reach beyond the US market.
Currently, Coinbase is ranked as the second-largest exchange globally, trailing behind its competitor Binance, which interestingly did the reverse - starting internationally and then launching a US exchange.
However, at the time of its launch, Coinbase International will exclusively cater to institutional investors outside of the United States, meaning that retail traders will have to wait a bit longer to gain access.
But hold on to your hats because here's where things get exciting: Coinbase International will offer leveraged trading for the first time in Coinbase's history, starting with a 5X leverage option.
A Warning Shot...
Coinbase's move into the international market may also serve as a warning to the US government, particularly the Federal Trade Commission (FTC), to provide more clarity and answers to unresolved questions regarding crypto regulations.
If they continue to fail in their duties, they risk pushing companies like Coinbase out of the US market, which could have a significant economic impact, leading investors to seek out unregulated areas of the market.
Coinbase CEO Brian Armstrong was asked if Coinbase would relocate entirely if regulators continued to fail to provide clarity, he said "anything is on the table".
More info soon...
Unfortunately, Coinbase has not revealed which countries will have access to the new exchange, but you can sign up on their platform to see if you're eligible.
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Author: Mark Pippen
London News Desk
Breaking Crypto News
