The world of digital assets continues to evolve at a rapid pace, and at the forefront of this transformation stands Coinbase, the largest cryptocurrency exchange in the United States. Today, Coinbase announced the official launch of the Coinbase International Exchange, a significant milestone in its global expansion strategy. This new platform has received regulatory approval from the Bermuda Monetary Authority (BMA) and will initially offer Bitcoin and Ethereum perpetual futures—a powerful financial instrument gaining traction among institutional traders.
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A Strategic Move Toward Global Expansion
Emmanuel Goh, Head of the Coinbase International Exchange, emphasized the strategic importance of this launch:
“The Coinbase International Exchange is another step on our plans to scale globally—going broad and deep, lighting up the map—first announced in May of 2022.”
This initiative reflects Coinbase’s long-term vision to become a truly global player in the digital asset space. While maintaining strong roots in the U.S., the company recognizes that innovation in crypto regulation is increasingly happening outside American borders. Jurisdictions like Bermuda are establishing clear, forward-thinking frameworks that attract institutional capital and foster responsible growth.
“Our international expansion drive will focus on high-bar regulatory jurisdictions,” a Coinbase spokesperson previously stated. “We remain focused on offering our products in a safe, compliant way, with sound risk management at the core.”
What Are Perpetual Futures?
Unlike traditional futures contracts—which require settlement on a predetermined date—perpetual futures do not expire. This allows traders to maintain their positions indefinitely, making them ideal for long-term strategies or hedging against market volatility. These instruments have become especially popular in crypto markets due to their flexibility and leverage options.
With Bitcoin and Ethereum being the two most dominant cryptocurrencies by market capitalization, offering perpetual futures on these assets positions the new exchange as a competitive player in the derivatives market.
Built for Institutions: Security, Compliance, and Settlement
The Coinbase International Exchange is designed specifically for institutional clients in eligible non-U.S. jurisdictions. Retail users will not have access at launch, underscoring the platform’s focus on professional-grade trading infrastructure.
All trades on the exchange will be settled in USD Coin (USDC), a regulated stablecoin issued by Circle and known for its transparency and reliability. This choice reinforces Coinbase’s commitment to compliance and reduces counterparty risk.
Key security and risk management features include:
- Real-time, 24/7 risk monitoring
- Dynamic margin requirements that adapt to market conditions
- Rigorous compliance standards aligned with international financial regulations
These safeguards ensure that institutional investors can operate with confidence, knowing their assets are protected by one of the most trusted names in crypto.
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Why Now? The Global Regulatory Landscape
Coinbase believes the timing is ideal for launching an international exchange. Around the world, countries are actively building crypto-forward regulatory frameworks to position themselves as innovation hubs.
“We would like to see the U.S. take a similar approach instead of regulation by enforcement,” Coinbase stated, referencing ongoing tensions with U.S. regulators. “The Coinbase International Exchange is an expansion, bringing the safest, most trusted name in crypto to the global market.”
This sentiment echoes growing frustration within the industry over what many perceive as unclear or hostile regulatory actions from U.S. authorities—particularly the Securities and Exchange Commission (SEC).
Regulatory Tensions in the U.S.
Since July 2022, when the SEC charged former Coinbase employee Ishan Wahi and his brother Nikhil with insider trading, relations between the exchange and federal regulators have been strained. In legal filings, the SEC also suggested that nine digital assets listed on Coinbase might qualify as unregistered securities—a move that sparked widespread debate across the crypto ecosystem.
In response, Coinbase has taken proactive steps to push for clarity. In April, it petitioned a federal court to compel the SEC to respond to its request for clearer regulatory guidelines. More recently, CEO Brian Armstrong launched a public campaign—sharing a “Stand with Crypto” NFT minted on Zora—to rally community support for fair and transparent rules.
While these efforts continue domestically, the launch of the international exchange signals that Coinbase won’t wait indefinitely for regulatory certainty in the U.S.
FAQ: Your Questions Answered
Q: Who can use the Coinbase International Exchange?
A: Initially, only institutional clients in eligible non-U.S. jurisdictions can access the platform. Retail users are not supported at launch.
Q: What assets are available for trading?
A: The exchange launches with Bitcoin (BTC) and Ethereum (ETH) perpetual futures. More products may be added in the future.
Q: How are trades settled?
A: All transactions are settled in USD Coin (USDC), a fully reserved and transparent stablecoin.
Q: Is there API access?
A: Yes, qualified institutional clients can connect directly via API for automated trading and integration with existing systems.
Q: Why did Coinbase choose Bermuda?
A: The Bermuda Monetary Authority provides a robust, compliant regulatory environment that aligns with Coinbase’s standards for security and transparency.
Q: Will retail users ever get access?
A: While not available now, Coinbase has not ruled out future retail access depending on regulatory developments and market demand.
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Looking Ahead: A New Chapter in Global Crypto Trading
As more nations embrace responsible crypto regulation, platforms like the Coinbase International Exchange are poised to play a pivotal role in shaping the future of finance. By combining cutting-edge technology with strict compliance protocols, Coinbase is setting a benchmark for secure, scalable global trading.
For institutional investors seeking exposure to major cryptocurrencies through advanced derivatives, this launch offers a compelling opportunity—backed by a brand synonymous with trust in the digital asset space.
While challenges remain—especially in navigating fragmented regulatory landscapes—the message is clear: the future of crypto is global, and Coinbase is building the infrastructure to support it.
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