Coinbase Global, the U.S.'s largest crypto exchange, has established an international exchange for cryptocurrency derivatives in Bermuda amid regulatory challenges in the U.S.
The Coinbase International Exchange (CIE) allows institutional
investors to trade crypto derivatives, starting with bitcoin and ether
perpetual futures.
- Similar to
traditional futures contracts, perpetual futures are a type of
cryptocurrency derivative that enables traders to place leveraged bets
on crypto price movements continuously, without any specific expiration
date.
- Coinbase International Exchange expands access to digital
assets for professional investors. Only institutional clients in
eligible, non-U.S. jurisdictions can access the platform for trades via
an API.
- The platform launches with the support of Bermuda
regulators. Coinbase obtained a license last month from the Bermuda
Monetary Authority.
- CEO Brian Armstrong recently said
that crypto companies would create operations in "offshore havens" if
the U.S. and the U.K. fail to establish clear rules for the industry.
- Also on Tuesday, the crypto exchange Gemini announced a derivatives platform for customers outside the U.S. to trade perpetual futures.
