Coinbase, one of the world’s largest cryptocurrency exchanges, has launched an international cryptocurrency exchange that will allow institutional investors outside of the US to trade in perpetual futures for Bitcoin and Ether. Perpetual futures contracts are a type of investment tool where institutions can make speculative bets on the prices of Bitcoin and Ether at a future date. The new international exchange has received regulatory approval from Bermuda Monetary Authority.
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In a press release, Coinbase stated that perpetual futures accounted for three-fourths of the total global crypto trading volume last year. The launch of the exchange is aimed at making Coinbase’s trusted products and services more accessible to users of digital assets who live outside of the US.
Coinbase’s largest volume of users, according to a report by Axios, comes from the US at 40%, followed by the UK and Europe accounting for a further 25%. The launch of the international exchange comes at a time when Coinbase’s CEO, Brian Armstrong, has spoken about wanting more favourable cryptocurrency regulations in the US, without which the firm may consider shifting its primary operations to a different country.