- Coinbase has announced that its non-U.S. exchange, Coinbase International, received additional regulatory approval from the Bermuda Monetary Authority that allows themAccording to the Thursday announcement from Coinbase, the added approval follows the May approval of a class F license from the BMA that allowed the exchange to offer non-U.S. institutions the ability to trade perpetual futures.
Coinbase said the global crypto derivatives market represents ~75% of crypto trading volume worldwide, but “only a few trusted players exist in the global crypto derivatives market that provide the security and transparency that crypto traders need to trade with confidence.” All liquidity on this and other Coinbase exchanges is “provided by established and independent liquidity providers who have undergone thorough compliance reviews,” they said.
After the launch of Coinbase International Exchange in May, the firm signed a licensing deal with Bitpanda, an Austrian crypto investment business, that established Coinbase as Bitpanda’s liquidity and custody provider and gave Coinbase Institutional clients access to Bitpanda’s platform. The arrangement also allows Coinbase to use Bitpanda Technology Solutions’ business-to-business infrastructure to connect directly with banks and fintechs.
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