- Perpetual futures made up 75% of crypto trading worldwide in 2022
- Coinbase would like to see the US take a crypto-friendlier approach
Coinbase announced the launch of an international exchange, which will enable institutional users outside the US to trade perpetual futures as long as they are in an eligible jurisdiction, Coinbase wrote on their official website.
Last year, perpetual futures made up almost three-quarters of the crypto trading volume in the world, providing additional trading versatility and creating high-liquidity markets.
Coinbase is more accessible to users outside the US
The new global perpetual futures exchange will make Coinbase’s products and services more accessible to customers outside the US.
Upholding the highest standards
Coinbase International Exchange guarantees top-notch trading technology, solid risk management, and a high standard of customer protection. More specifically, the following is provided:
· Real-time 24/7/365 risk management
· Well-capitalized exchange to support tail market events
· Dynamic margin requirements and collateral assessments
· Liquidity provided by external market makers
· Liquidation framework according to rigorous compliance standards
The exchange listed BTC and ETH perpetual futures contracts on May 2. All trades are settled in USDC. Eligible customers have direct trading access via API. The starting leverage is up to 5x leverage. The services weren’t available to retail customers at the time of writing.
Partnerships with world-leading regulators
Coinbase’s international platform partners with the Bermuda Monetary Authority (BMA), an experienced and well-respected regulator. Bermuda’s regulatory environment is known for a high level of cooperation, compliance, and transparency. Its financial sector is in line with international standards and best practices.
On April 20, Bankless Times reported that Coinbase received a license to operate in Bermuda and was likely to set up a derivatives exchange there.
Criticism toward US regulators
Coinbase once again pointed out that the US differs from other countries in that the latter are adopting crypto-forward regulatory frameworks to become crypto hubs. The leading crypto exchange would like to see the US take a similar approach instead of enforcing regulation, which has hurt the market.
Coinbase concludes that its international platform will bring the safest and most secure name in crypto to the global market.
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