Coinbase, an American based crypto exchange platform, has announced that it has expanded its crypto to crypto trading services to 11 new countries. This news was communicated through the platform’s online blog and will see the platform’s coverage rise from the previous 42 countries to 53 countries.
Today we welcome customers from 11 countries in Latin America and Asia to the #cryptoeconomy with crypto-to-crypto trading. Read up on the news: https://t.co/j0pxcTxzE0 pic.twitter.com/yR5rkVYjeW— Coinbase (@coinbase) April 17, 2019
According to the platform’s blog post, Coinbase has added into the fold new jurisdictions such as India, South Korea, Philippines, Argentina, Indonesia, Mexico, New Zealand, Peru, Columbia, Chile, and Hong Kong. Crypto enthusiasts in those jurisdictions will be able to access crypto to crypto trading services that will see them have the ability to buy and sell crypto on Coinbase Pro, and Coinbase.com. These users will also be able to trade via the platform’s app which is available on both android and IOS.
Coinbase official statement read;
“Direct trading between cryptos is increasingly the new norm and in the last year has overtaken traditional fiat to crypto trading across the globe. Millions of Coinbase customers can now securely and quickly trade between different cryptos and send crypto off-platform at their convenience.”
Coinbase went on to state through the same blog post that the platform’s foray into the new 11 jurisdictions was part of the exchange’s mission of “creating an open financial system for the world”
The statement went on to note that the crypto space was shifting from the “investment stage” and growing into the “utility phase”.
On this, the statement read;
“This could take the form of decentralized versions of traditional financial services like lending or micropayments or truly novel crypto applications that no one has even thought of yet. The ability to convert from one crypto to another will form the backbone of this new decentralized economy.”
The expansion of Coinbase into the new 11 countries will be a huge plus for the platform not only because of the exposure and visibility it will gain in these populous countries, but also the increase in trading volume that is expected.
Crypto enthusiasts in those countries will also gain big as well not only since they will have access to the platforms great services, but also access to the variety of tokens supported by Coinbase.
Users in other jurisdictions such as parts of Africa where the service is yet to venture into, can only wait with bated breath. Such users have to rely on trading platforms that only provide a limited number of tokens for trading.
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