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Coinbase Unveils Plans for Enhanced Spot Markets

Published on December 14, 2023

Coinbase
is expanding its global footprint by improving spot markets for perpetual
futures traders to enhance the overall trading experience. The approach
includes the strategic placement of servers worldwide to reduce latency. In the
initial phase, Coinbase will list BTC-USDC and ETH-USDC pairs on December 14,
exclusively through API access for non-US institutional clients.

Since
its launch in May 2023, Coinbase International Exchange has witnessed growth,
welcoming over 100 institutions and achieving $10 billion in Q3 perpetual
futures trading volume. Noteworthy features include perpetual futures for
eligible retail users, 15 listed perpetual contracts covering 70% of the
market, and increased maximum leverage of 10x for all contracts.

In
the initial phase, Coinbase prioritizes building liquidity and establishing a
robust foundation. Subsequent phases will extend the product to retail users,
introduce additional assets, and incorporate features supporting new trading
strategies and enhancing capital efficiency. This initiative aligns with Phase
II of Coinbase’s “Go Broad, Go Deep” strategy, emphasizing
international expansion and innovative product development.

A
pivotal aspect of Coinbase is its strategic response to
the uncertain US regulatory landscape. The exchange aims to provide an
alternative for those cautious about engaging with US-based platforms.

We are excited to announce the next phase of our Coinbase International Exchange expansion – the launch of non-US spot markets for eligible customers, designed to address the unique needs and demands of our global user base. pic.twitter.com/JWEChT5BDa

— Coinbase 🛡️📞 (@coinbase) December 13, 2023

New
Feature Simplifies Crypto Transfers via Shared Links

In
a previous report, Finance Magnates
highlighted that Coinbase
has introduced a user-friendly feature allowing cryptocurrency transfers
through shared links on messaging and social media platforms, including
WhatsApp, iMessage, Telegram, Facebook, Snapchat, TikTok, and Instagram, as
well as email.

This
simplified method, emphasizing ease similar to sending a text, is accessible
for users of Coinbase Wallet. The instant and fee-free feature is particularly
suitable for micro-payments. However, clarity is needed on who covers
blockchain fees. Both senders and receivers must use Coinbase Wallet, and
unclaimed funds within two weeks will be returned. Coinbase Wallet’s global
availability ensures funds can be claimed in nearly every country.

Coinbase faced access
restrictions in Kazakhstan last month due to new crypto regulations. Despite
generating $674.1 million in operating revenue last quarter and experiencing
significant share price gains amid the crypto rally, Coinbase remains in a
legal battle with the US securities regulator. The ongoing court dispute
involves allegations of operating an illegal exchange platform and listing
unregistered securities.

A
pivotal aspect of Coinbase is its strategic response to
the uncertain US regulatory landscape. The exchange aims to provide an
alternative for those cautious about engaging with US-based platforms.

We are excited to announce the next phase of our Coinbase International Exchange expansion – the launch of non-US spot markets for eligible customers, designed to address the unique needs and demands of our global user base. pic.twitter.com/JWEChT5BDa

— Coinbase 🛡️📞 (@coinbase) December 13, 2023