Good news for traders as Coinbase adds more features to its offering

One of the worlds largest exchanges Coinbase is looking to expand internationally with an exciting new announcement today for its customers in Europe and Asia.

High volume traders will now get access to cross-border wire transfers, custodial services, and an OTC trading desk.

The Asian and European customers with high trading volumes on either Coinbase Pro and Prime will now be able to use cross-border wire transfers to deposit money into their accounts.

Additionally, select customers who use Coinbase Prime will also get access to Coinbase’s Over the Counter (OTC) trading desks as well as access to Coinbase Custody, the exchange’s dedicated crypto cold storage-as-a-service platform.

The move was made as the company said that hundreds of crypto-leaning hedge funds were launched in the past year and many proprietary trading firms, endowments and family offices have started trading digital assets. Advantages of custody accounts come as the funds being held by the exchange are often segregated and therefore are supposedly safer.

Some of these services are live already. The international wire transfer service has gone live for customers who live in countries which do not have fiat rails as of yet. Coinbase will support both incoming and outbound transactions from non-US bank accounts using the SWIFT method. Swift is the method often used by banks and payment institutions to transfer fiat currency.

By using Coinbase Prime, each of these USDC stable coin tokens is exchangeable for 1 US Dollar at any time, at no charge.

Custodial services are currently live in Asia and are set to be approved customers in Europe and other Asian nations soon (no timeframe attached). With these services, the exchange will be able to offer an institutional-grade cold storage facility for storing a large number of crypto assets.

The OTC desk has also started in Asia first, is has been said that the OTC desk is agency only, which means that the exchange will never trade on a principal basis or against their clients. There are many over the counter (OTC) exchanges over the world. All this means is that there is no centralised exchange like the London Stock Exchange for example. There are advantages and disadvantages to this the main advantage being regulation.

Kayvon Pirestani, head of institutional sales in Asia said “Asia is super important to the crypto ecosystem,’’, he went on to comment. “It’s home to some of the most active retail traders in the world as well as a lot of institutional investors.”

What does this all mean?

Coinbase is moving toward a more traditional brokerage offering. By offering custodial accounts it could mean they might offer margin trading as you see in other asset classes like FX (Forex). This is where you can deposit a certain amount and leverage the funds to trade with higher ticket size. So all is going well for the exchange who secured more funding in October at a valuation of $8 billion, this was based on the fact they generated $1.3 billion in sales over 2018.

Most Popular

1

Min. Deposit

$ 20

Promotion

User Score

5

Margin Trading with full legal compliance

Cryptocurrency staking

Various Payment options

Visit Site more info

Description:

Cex.io offers exchange of fiat currency for Bitcoin Ethereum, Tether, and 23 other cryptocurrencies, as well as Bitcoin/Ethereum trading against the USD.

Payment Methods:

Debit Card, Credit Card, Wire Transfer, Cryptocurrencies, skrill

Full Regulations:

2

Min. Deposit

$ 50

Promotion

User Score

5

Safe & Secure cryptocurrency exchange

Easy Intuitive interface

Impressive limits

Visit Site more info

Description:

Coinmama is a bitcoin broker based in Israel. They specialize in selling bitcoins for credit card to nearly anyone in the world.

Payment Methods:

Bank Transfer, Debit Card, Credit Card, Apple Pay, Google Pay, Volt, Bank Transfer: SEPA, Wire Transfer: SWIFT

Full Regulations:

3

Min. Deposit

$ 10

Promotion

User Score

5

Accepts customers from the USA

Deposit $100 and get a $10 bonus!* Build a diversified portfolio with crypto, stocks, and ETFs — all in one place

Trade on the world's leading social trading and investing platform

Visit Site more info

Description:

eToro offers a wide range of cryptos, such as Bitcoin, XRP and others, alongside crypto/fiat and crypto/crypto pairs. eToro users can connect with, learn from, and copy or get copied by other users.

Payment Methods:

Bank Transfer, Debit Card, PayPal, Credit Card, Wire Transfer

Full Regulations:

CySEC, FCA

4

Min. Deposit

-

Promotion

User Score

5

Profitable and safe investment solutions

Exchange of any virtual currency

Convenient service and instant transfers

Visit Site more info

Description:

It is a Trading Platform for the user that want to trade cryptocurrency by using Bitcoin, Ethereum and Litecoin. They also provide the Deposit and Withdrawal service for the users who want to transfer their funds either in to or out from Mercatox’s user balance for their trading activity needs.

Payment Methods:

Full Regulations:

5

Min. Deposit

$ 1

Promotion

User Score

4.9

0% deposit fees, 0% withdrawal fees, 0% trading commissions

Set up automated trades and up to 50 limit orders with ease

Buy and sell 90+ cryptos and utility tokens, precious metals and national currencies with as little as $1

Visit Site more info

Description:

Create your account in minutes and start trading 90+ cryptos and other assets on the most flexible trading platform.

Payment Methods:

Full Regulations: