Coinbase introduces spot trading for non-US institutions

Coinbase continues to broaden its customer base beyond the United States by introducing spot trading for non-U.S. institutions on its cryptocurrency exchange.


Starting from December 14, Coinbase will list “BTC-USDC and ETH-USDC pairs via API access exclusively for non-U.S. institutional clients,” as revealed in the company’s recent blog post.

The offshore entity, called Coinbase International Exchange, allows users outside the US to trade on both spot and derivatives markets. Bitcoin and Ether perpetual contracts were initially introduced as its first derivative contracts, but other products are expected to launch soon afterwards.

The international division of Coinbase, which initiated launched trading for non-U.S. institutional clients earlier this year, said it plans to further expand its services while also incorporating additional assets.

Since the launch of its international arm, Coinbase introduced perpetual futures trading for non-U.S. institutions and “eligible” retail users. During the third quarter, the platform reported onboarding over 100 institutions, resulting in $10 billion in perpetual futures trading volume, as mentioned in the blog post.

Coinbase’s strategy to expand globally, titled “Go Abroad, Go Deep,” has been motivated, in part, by its ongoing regulatory challenges in the United States. The company has outlined plans to focus on 24 countries, including Brazil, Hong Kong, and the United Arab Emirates.

Coinbase Advanced is touted as a platform for seasoned retail traders. These perpetual futures contracts enable traders to speculate on crypto asset price fluctuations without a defined expiry date. Moreover, to celebrate the launch, Coinbase has introduced a promotional low fee rate of 0% (maker) and 0.03% (taker).

In May 2023, Coinbase procured a class F license from the BMA, granting it permission to offer perpetual futures to non-US institutional clients. The new product addition will help traders take advantage of volatility, hedge risk and discover prices through options, which are generally simple and have no special or unusual features.

The US-based publicly traded exchange launched its international derivatives exchange in Bermuda amid a deepening regulatory crackdown at home. The launch came after the company received regulatory approval from the Bermuda Monetary Authority as part of an aggressive expansion outside the United States.