Reportedly, earlier Coinbase got a license from the Bermuda Monetary Authority
As per reports, the cryptocurrency market is facing regulation-based challenges in the United States, but Coinbase, a crypto exchange firm, is growing on global platforms, stated Cointelegraph.
On May 2, 2023, Coinbase announced the inauguration of Coinbase International Exchange (CIE), a new institutional platform designed for crypto derivatives trading, added Cointelegraph.
Initially, the Coinbase International Exchange will trade with Bitcoin and Ether. It is expected that all the trading will be made in Coinbase’s own USD stablecoins and no fiat on-ramps will be needed, Cointelegraph highligted.
Furthermore, this new exchange has been launched with the help of Bermuda-based regulators. Sources revealed that Coinbase had obtained a license in the mid of April 2023, from the Bermuda Monetary Authority (BMA). This Class F license will help Coinbase to operate with many features such as token sales, issuance, digital asset exchange and a digital asset derivatives exchange provider, Cointelegraph concluded.
(With insights from Cointelegraph)
Source:financialexpress.com