Coinbase to Launch Spot Crypto Trading for Global Expansion
Coinbase will start offering spot crypto trading services on its international exchange as part of a global expansion outside the US. Institutional investors can trade Bitcoin and Ether against the USDC stablecoin starting December 14 on the global platform, which currently focuses on derivatives.
During this initial launch, the company’s primary focus is to increase liquidity to create a strong foundation. In the upcoming months, the company intends to expand its services to facilitate retail users, additional assets, and new features that encourage new trading strategies as well as improve capital efficiency.
According to Michael Elliott, a research analyst at the Center for Financial Research and Analysis (CFRA), Coinbase should be able to use the launch to gain experience and assess demand for spot products. This could help COIN in the long run as they seek US approval.
To expand its focus beyond the US, Coinbase had already started its international exchange in May. The exchange aims to develop innovative, accessible, and efficient products and services. During the past months, the exchange has grown significantly, which is shown in various achievements.
First, Coinbase successfully onboarded over 100 institutions, and in the Q3 alone, the perpetual futures trading volume reached around $10 billion. Second, the company released perpetual futures for qualified retail users on Coinbase Advanced in October. Third, Coinbase listed 15 perpetual contracts encompassing over 70 percent of the perpetual futures trading market. Finally, the company increased all listed contracts to a maximum leverage of 10x.
Previous lawsuits
Previously, the US Securities and Exchange Commission (SEC) filed a lawsuit against Coinbase in June, alleging that the company sold unregistered securities. Coinbase’s participation in the unregistered securities was carried out through its staking-as-a-service program. This enables the customers to earn profits from Coinbases’s efforts and the “proof of stake” mechanisms of specific blockchains.
With this staking programme, Coinbase is said to perform this staking program in several steps. The first was gathering all of the customers’ “stakeable” crypto assets. The second was performing blockchain transaction validation services by staking the accumulated assets. After that, they gave a share of the profits made from this effort to the customers who previously gathered their assets.
Coinbase has refuted these claims, where the lawsuit is part of a broader US crackdown on the industry in the aftermath of high-profile failures such as FTX. Furthermore, the company attached ten exhibits to support its motion, including orders from the previous case involving Howey Test questions and transcripts from a hearing in SEC’s case against LBRY. The Howey Test refers to a standard set by the Supreme Court in 1946 which was implemented to determine the qualifications of an investment contract.
Besides Coinbase, the SEC also filed lawsuits against Kraken and Binance exchanges for not registering with the agency. Both of the companies rejected the claim. In the meantime, the Congress’ slow development of the crypto-related bills shows the declining regulatory outlook in the US.
However, despite the ongoing situation, the inclusion of virtual currencies has greatly impacted the gaming industry, especially online baccarat casinos. Numerous esteemed online casinos now accept cryptocurrencies like Ethereum and Binance. These businesses use crypto to reach a larger audience. Hence, the popularity of crypto in the casinos flourishes because of the advantages it offers.
Cryptocurrencies advantages in online casinos
Crypto transactions in online casinos are known to be simple and quick. Players can instantly make deposits and withdrawals. Using crypto removes the need for middle-person involvement, such as banks or payment processors. Therefore, the players can have more control over their money because of the direct transactions.
One notable advantage in online casino crypto transactions is that it enables players to bet without disclosing any personal information. As the transactions are pseudonymous, they will protect your data without endangering your security.
Another benefit of using cryptocurrencies is that they offer lower transaction fees, allowing the players to retain a bigger portion of their winnings. Many current digital currencies provide a fixed rate regardless of the transacted amount. This makes an excellent option for gambling enthusiasts when making bigger transactions during the game.
Prospective customers who wish to use cryptocurrencies in online casinos can check reliable casino news sites, such as Bitcasino’s blog. The Bitcasino platform is also known for its secure and simple transactions. In Bitcasino, players can choose various games, including baccarat. However, it is important to note that customers must deposit your crypto first before starting the game.
DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
Author
Analysis
Coinbase to Launch Spot Crypto Trading for Global Expansion
Coinbase will start offering spot crypto trading services on its international exchange as part of a global expansion outside the US. Institutional investors can trade Bitcoin and Ether against the USDC stablecoin starting December 14 on the global platform, which currently focuses on derivatives.
During this initial launch, the company’s primary focus is to increase liquidity to create a strong foundation. In the upcoming months, the company intends to expand its services to facilitate retail users, additional assets, and new features that encourage new trading strategies as well as improve capital efficiency.
According to Michael Elliott, a research analyst at the Center for Financial Research and Analysis (CFRA), Coinbase should be able to use the launch to gain experience and assess demand for spot products. This could help COIN in the long run as they seek US approval.
To expand its focus beyond the US, Coinbase had already started its international exchange in May. The exchange aims to develop innovative, accessible, and efficient products and services. During the past months, the exchange has grown significantly, which is shown in various achievements.
First, Coinbase successfully onboarded over 100 institutions, and in the Q3 alone, the perpetual futures trading volume reached around $10 billion. Second, the company released perpetual futures for qualified retail users on Coinbase Advanced in October. Third, Coinbase listed 15 perpetual contracts encompassing over 70 percent of the perpetual futures trading market. Finally, the company increased all listed contracts to a maximum leverage of 10x.
Previous lawsuits
Previously, the US Securities and Exchange Commission (SEC) filed a lawsuit against Coinbase in June, alleging that the company sold unregistered securities. Coinbase’s participation in the unregistered securities was carried out through its staking-as-a-service program. This enables the customers to earn profits from Coinbases’s efforts and the “proof of stake” mechanisms of specific blockchains.
With this staking programme, Coinbase is said to perform this staking program in several steps. The first was gathering all of the customers’ “stakeable” crypto assets. The second was performing blockchain transaction validation services by staking the accumulated assets. After that, they gave a share of the profits made from this effort to the customers who previously gathered their assets.
Coinbase has refuted these claims, where the lawsuit is part of a broader US crackdown on the industry in the aftermath of high-profile failures such as FTX. Furthermore, the company attached ten exhibits to support its motion, including orders from the previous case involving Howey Test questions and transcripts from a hearing in SEC’s case against LBRY. The Howey Test refers to a standard set by the Supreme Court in 1946 which was implemented to determine the qualifications of an investment contract.
Besides Coinbase, the SEC also filed lawsuits against Kraken and Binance exchanges for not registering with the agency. Both of the companies rejected the claim. In the meantime, the Congress’ slow development of the crypto-related bills shows the declining regulatory outlook in the US.
However, despite the ongoing situation, the inclusion of virtual currencies has greatly impacted the gaming industry, especially online baccarat casinos. Numerous esteemed online casinos now accept cryptocurrencies like Ethereum and Binance. These businesses use crypto to reach a larger audience. Hence, the popularity of crypto in the casinos flourishes because of the advantages it offers.
Cryptocurrencies advantages in online casinos
Crypto transactions in online casinos are known to be simple and quick. Players can instantly make deposits and withdrawals. Using crypto removes the need for middle-person involvement, such as banks or payment processors. Therefore, the players can have more control over their money because of the direct transactions.
One notable advantage in online casino crypto transactions is that it enables players to bet without disclosing any personal information. As the transactions are pseudonymous, they will protect your data without endangering your security.
Another benefit of using cryptocurrencies is that they offer lower transaction fees, allowing the players to retain a bigger portion of their winnings. Many current digital currencies provide a fixed rate regardless of the transacted amount. This makes an excellent option for gambling enthusiasts when making bigger transactions during the game.
Prospective customers who wish to use cryptocurrencies in online casinos can check reliable casino news sites, such as Bitcasino’s blog. The Bitcasino platform is also known for its secure and simple transactions. In Bitcasino, players can choose various games, including baccarat. However, it is important to note that customers must deposit your crypto first before starting the game.
DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
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