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Coinbase Futures Exchange Launches Outside the US

2 mins
Updated by Michael Washburn
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In Brief

  • Coinbase launches an international derivatives trading platform for institutional investors outside the US.
  • The platform offers perpetual futures trading settled in USD Coin (USDC).
  • Coinbase is considering moving to the UK because of the regulatory climate in the US.
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Coinbase rolls out a non-US exchange for institutional investors. Thus taking another step toward parting ways for good with the harsh climate in America under Gary Gensler’s SEC.

Cryptocurrency exchange Coinbase has announced the launch of its international derivatives trading platform, Coinbase International Exchange. The platform will offer perpetual futures trading to institutional investors based outside the US. And all trades will settle in USD Coin (USDC), a stablecoin issued by Circle.

Coinbase Trading Features

The exchange will offer a range of trading options, Coinbase claims in a new blog post. These include dynamic margin requirements, real-time 24/7 risk management, and a liquidation framework.

Currently, Coinbase provides perpetual futures trading for Bitcoin and Ether. Traders can access up to 5x leverage. However, the Coinbase API is available only to institutional investors outside of the United States.

Brian Armstrong Coinbase Crypto Regulations

Will Coinbase Bolt?

Coinbase International Exchange is the latest move in Coinbase’s global growth strategy. Brian Armstrong, the company CEO, has recently voiced his concerns about US regulation. And, he has hinted that the exchange could move to the UK if things do not improve.

“Countries around the world are increasingly moving forward with responsible crypto-forward regulatory frameworks to strategically position themselves as crypto hubs,” said a recent statement from the exchange. “We would like to see the US take a similar approach.”

But such appeals have fallen on deaf ears. Thus, adding to the crypto players’ woes and feeling that it may be time to move to jurisdictions that are more pro-crypto.

This week, two new and separate legal actions hit Coinbase and a number of its executives. First, the exchange faces a proposed class-action lawsuit charging that it violated biometric privacy laws in Illinois.

Plus, Coinbase is also the target of a lawsuit for allegedly selling stock based on inside information. And right around the time that the company went public in 2021.

According to a May 1 Bloomberg story, the lawsuit accuses the firm’s board of directors of dumping $2.9 billion in stock just before negative information caused a decline in share prices. Thus avoiding $1 billion in losses.

The suit was filed by Adam Grabski. Then it was unsealed in Delaware Chancery Court.

Coinbase denies the charges.

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Josh Adams
Josh is a reporter at BeInCrypto. He first worked as a journalist over a decade ago, initially covering music before moving into politics and current affairs. Josh first owned Bitcoin in 2014 and has followed the space ever since. He is particularly interested in Web3 adoption, policy and regulation, CBDCs, privacy, and the future of the metaverse.
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