One of the longest-serving exchanges, Coinbase is set to expand its services. As per reports, the exchange wants to expand services across Southeast Asia and Latin America.
In other words, the expansion of Coinbase will cover 11 countries and its cryptocurrency enthusiasts. For instance, Argentina, Mexico, India, Hong Kong, Peru, Columbia, Indonesia, South Korea, the Philippines, and New Zealand. As a result, these countries will get access to crypto-to-crypto trading services of the company.
In short, Coinbase will be available in 53 countries serving all the crypto customers.
Previously, Coinbase expanded its services in December, last year into some counties. The countries included Gibraltar, Andorra, Lithuania, Iceland, Guernsey, and the Isle of Man.
However, this news comes after San Francisco based company announced the launching of a crypto debit card in the UK. As a result of which, it went through criticisms. Reportedly, the criticism involved the company’s acquisition of Neutrino a few weeks ago.
Coinbase recognizes an increase in direct trading between crypto
The cryptocurrency exchange, Coinbase is a major exchange that attracts lots of traders and investors. But, now the exchange takes a cautious approach to roll out several geographies. It does so in phases, according to reports. For instance, the exchange is continuously serving its customers for a year. It has customers in different countries and continents. In addition to it, the company aims to bring Coinbase services to different corners of people across the globe.
Interestingly, Coinbase is successful in stabilizing its presence in many regions. Now, the company decides to expand its services to a higher stage. As the company claims, it will allow customers to trade, send, receive and store cryptocurrencies. The customers of Coinbase can perform these activities on Coinbase Pro and Coinbase.com.
Similarly, the company recognizes the increase in direct trading between crypto. However, in the last year, the company took traditional fiat to crypto trading.
Coinbase quotes movement of crypto from the investment phase to the utility phase
Amidst this, the exchange quotes that there is movement of crypto from current investment phase into the utility phase. Coinbase says that a host of use cases will present itself. It will take the form of decentralized version, says the company. For instance, traditional financial services like lending, micropayments or novel crypto applications, will follow. The company claims that nobody can think regarding the same at present. The third largest exchanges claim that the platform can convert one crypto to another. According to the company, it will form like the backbone of a decentralized economy.
After the rollout of Coinbase to these countries, people will receive it as the best exchange. About previous markets, Coinbase can turn out to be a leader in these countries.
The cryptocurrency exchange, Coinbase has it’s headquartered in the US. The spokesperson of the exchange says that one of their priorities is to bring Coinbase services to everyone. According to him, this plan is over 12 months old. Further, it claims that millions of customers of Coinbase can securely and quickly trade with different crypto.