Coinbase is introducing spot cryptocurrency trading to its international exchange.
The launch, which begins on Thursday, allows international institutional investors to exchange bitcoin and ether with the USDC stablecoin. The exchange, which launched in May, previously offered derivatives.
“In the coming months, we plan to expand the product to include retail users, additional assets, and features that enable new trading strategies and improve capital efficiency,” Coinbase said in a press release.
The move is also intended to alleviate some concerns among those concerned about interacting with U.S. exchanges due to the uncertain regulatory environment.
Read more: Coinbase Takes International Action as US Regulators Stall
Coinbase CEO Brian Armstrong previously emphasized that the exchange will continue to analyze its international options due to regulatory uncertainty. He has praised both the European Union and the United Kingdom for a more “thoughtful” and “comprehensive” approach to crypto.
“Coinbase International Exchange offers a reliable and compliant non-US spot market for those participants,” the post said.
In October, Coinbase expanded its perpetual futures service to retail traders outside the U.S. The service was offered to institutional clients when the exchange began in May.
The U.S. Securities and Exchange Commission sued Coinbase in June, alleging that it operated as an unregistered exchange while offering and selling unregistered securities.
Coinbase and its chief legal officer, Paul Grewal, maintained their innocence and took the SEC to court to demand clarity on their regulatory stance. The regulator, however, responded and said the company could not make such demands.
The SEC also targeted Binance, alleging similar violations, although it also accused the crypto exchange of commingling customer funds. In November, the US Department of Justice announced a $4.3 billion settlement with Binance that included the dismissal of its former CEO, Changpeng Zhao. Binance also pleaded guilty to violating the Bank Secrecy Act.
