Coinbase to Launch Crypto Spot Trading Outside the U.S.

As part of its global expansion efforts, the US-based cryptocurrency exchange Coinbase will soon be offering the option to spot trade cryptocurrencies outside of the U.S., as stated in a Wednesday blog post.

Starting Thursday, Coinbase's international exchange will allow institutional clients to trade Bitcoin (BTC) and Ethereum (ETH) against the USDC stablecoin. Retail investors will have to wait a few more months to do the same and for other assets to be launched on the platform.

The crypto exchange said: "Our primary focus at the outset will be to build liquidity and create a robust foundation."

Coinbase's international exchange​ launched in May this year initially operated as a crypto derivatives trading platform, which is subject to strict regulations in the United States.

The move came at a time when regulators in various countries are cracking down on crypto companies, including Coinbase. In June, the U.S. Securities and Exchange Commission (SEC) filed a lawsuit​ against the crypto exchange, accusing it of illegally operating without having first registered with the regulator. Last month, its website was blocked​ by the Kazakh government for alleged violations of the country's laws on digital assets.