• Coinbase has announced the launch of a Bermuda-based marketplace for non-US institutional users.
• The new platform, Coinbase International Exchange, allows the trading of BTC and ETH perpetual futures.
• It is available to non-US institutional clients, with all transactions being settled in USDC.

Coinbase Launches Platform for Non-US Institutional Investors

The leading cryptocurrency exchange Coinbase recently announced the launch of a Bermuda-based marketplace that will serve non-US institutional users. This new platform, called Coinbase International Exchange, allows the trading of BTC and ETH perpetual futures and is available to non-US institutional clients with all transactions being settled in USDC.

Relocation due to Regulatory Hurdles

Coinbase has been eyeing other countries to relocate due to regulatory hurdles in America. CEO Brian Armstrong held discussions with British authorities in April suggesting that the UK could become an expansion target for Coinbase as well.

BMA Approval

The company obtained approval from the Bermuda Monetary Authority (BMA) in April and displayed intentions to establish an offshore derivatives marketplace in the region shortly afterwards.

Features of Coinbase International Exchange

Coinbase International Exchange provides non-American institutional clients with options to trade bitcoin and ether perpetual futures on the platform, allowing them to speculate on price movements without actually owning the assets themselves.

Conclusion

Coinbase’s recent move shows its commitment towards expanding its operations outside of US borders due to uncertain regulations within American markets.