Markets

Coinbase launches futures exchange outside of the United States

Coinbase offers a non-US exchange for institutional investors. Thus taking another step toward parting ways for good with America’s harsh climate under the leadership of Gary Gensler SEC.

Cryptocurrency exchange Coinbase has announced the launch of its international derivatives trading platform, Coinbase International Exchange. The platform will provide perpetual futures trading for institutional investors residing outside the United States. All trades will be settled in US Dollars (USDC), a stablecoin issued by the department.

Coinbase trading features

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

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

Is Coinbase Bolt?

Coinbase International Exchange is the latest step in Coinbase’s global growth strategy. Brian Armstrong, the company’s CEO, recently expressed concerns about US regulation. He has hinted that the exchange could move to the UK if things don’t improve.

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

But such appeals fell on deaf ears. Thus, adding more to the woes of cryptocurrency players and feeling that it is time to move to more crypto-professional jurisdictions.

This week, two new and separate legal actions hit Coinbase and several of its executives. First, the exchange is facing a proposed class action lawsuit that accuses it of violating biometric privacy laws in Illinois.

In addition, Coinbase is also the target of a lawsuit for allegedly selling shares based on inside information. And around the time the company will go public in 2021.

According to a May 1 Bloomberg story, the lawsuit accuses the company’s board of directors of dumping $2.9 billion in stock before negative information sent share prices down. Thus avoiding a billion dollars in losses.

The lawsuit was filed by Adam Grabsky. It was then opened at the Delaware Chancery Court.

Coinbase denies the charges.

Disclaimer

Adhering to the Trust Project’s guidelines, BeInCrypto is committed to providing unbiased and transparent reporting. This news article aims to provide accurate and timely information. However, readers are advised to independently check the facts and consult with a professional before making any decisions based on this content.

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