Coinbase Launches International Exchange with Perpetual Futures

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Last Updated on May 2, 2023 by Bitfinsider

The Coinbase International Exchange, the largest cryptocurrency exchange in the United States, launched today, expanding access to digital assets for institutional clients. The new exchange will initially sell Bitcoin and Ethereum perpetual futures, after regulatory permission from the Bermuda Monetary Authority (BMA).

Unlike typical futures, which require buyers and sellers to execute the transaction on a specific day regardless of market conditions, perpetual futures do not have an expiration date, allowing traders to maintain their positions permanently.

Coinbase stated that it is dedicated to the United States, but noted that governments throughout the world are increasingly pushing forward with responsible, crypto-forward legislative frameworks in order to position themselves as crypto hubs.

“We’d like to see the United States take a similar approach to regulation by enforcement, which has resulted in a disappointing trend for crypto development in the United States,” Coinbase stated. “The Coinbase International Exchange is an expansion, bringing the safest, most trusted name in cryptocurrency to the global market.”

Trades on the Coinbase International Exchange will be settled in USD Coin (USDC), and the new exchange will have various security features, including real-time 24/7 risk monitoring, dynamic margin requirements, and high compliance standards, according to Coinbase.

Institutional clients in suitable non-US jurisdictions can also use the platform directly via an API, according to Coinbase, however retail consumers will not have access at first.

“As more markets implement regulatory frameworks to become crypto hubs, we believe the time has come to launch this international exchange,” Coinbase stated.

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