Coinbase launches spot trading for non-US institutional clients

Coinbase launches spot trading for non-US institutional clients

By Benson Toti - min read
  • Coinbase has announced the launch of non-US spot markets for institutional investors.
  • Eligible non-US institutional investors will access BTC/USDC and ETH/USDC as from December 14, 2023 on Coinbase International Exchange.
  • The exchange plans to expand the product to retail investors in coming months.

Crypto exchange Coinbase has announced an expansion of its non-US spot markets offering for institutional investors.

Coinbase expands non-US spots markets to institutional investors

In an announcement published December 13, the US-based crypto platform said it had launched spot trading markets for Bitcoin and Ethereum for eligible institutional clients using the Coinbase International Exchange. 

The assets will be traded against USDC, with BTC/USDC and ETH/USDC available as from Thursday, December 14.

Non-US institutional customers will be able to access these pairs via API.

According to the exchange, the expansion is part of its plans to address needs and demands unique to its global user base, while also reinforcing its strategic mission to provide customers with trusted products and services.

Coinbase will initially focus on building liquidity and creating a robust foundation for the listed non-US spot markets. However, the plan is to steadily expand this product to retail investors and add more crypto assets over the coming months.

The exchange will also unveil features designed to allow for new trading strategies as they look to enhance capital efficiency.

Coinbase launched its international exchange in May this year, with the move coming amid the regulatory crackdown by the US Securities and Exchanges Commission (SEC). Since then, the platform has reportedly seen over 100 institutions onboarded. 

According to today’s update, Coinbase’s international platform registered nearly $10 billion in trading volumes for perpetual futures in the third quarter alone.

Growth included the launch of perpetual futures for eligible retail users on the company’s Coinbase Advanced. The exchange also listed 15 perpetual contracts that account for “over 70% of the addressable perpetual futures trading market,” it said in the release.