Coinbase Global Inc introduced a new platform for trading cryptocurrency derivatives on an international scale,...
The exchange will permit institutional investors in eligible regions outside the U.S. to participate in perpetual futures trading, according to Coinbase.
Following various mishaps last year, including the bankruptcy of FTX, a crypto exchange run by Sam Bankman-Fried, the digital assets sector is in the process of recovery. In response, Coinbase CEO Brian Armstrong cautioned last month that crypto firms would be forced to operate in “offshore havens” unless the U.S. and the United Kingdom clarify their regulations for the industry.
Coinbase has emphasized that institutional clients in eligible non-U.S. jurisdictions will have direct access to trading via an application programming interface, but retail customers are not yet eligible.
According to Coinbase, Bermuda’s regulatory environment is characterized by high levels of transparency, compliance, and cooperation.