Coinbase Launches Crypto-to-Crypto Trading to 11 More Countries
Leading United States-based crypto exchange Coinbase has expanded its trading services to nearly a dozen more countries. This news comes via a blog post published on the site’s official page yesterday.
Coinbase, along with its professional trading platform, Coinbase Pro, have launched crypto-to-crypto trading to eleven countries, mainly in Latin America and Asia — Colombia, Argentina, Peru, Chile, Mexico, Hong Kong, South Korea, the Philippines, Indonesia, and New Zealand. Notably, these trading services are, as aforementioned, crypto-to-crypto, rather than fiat-crypto, meaning users in these countries will not necessarily be able to buy crypto with their native currencies. However, they will be able to freely trade into and out of cryptocurrencies once they own it, as well as send, receive, and store it.
In the blog post, Coinbase comments on the importance of making crypto accessible to users all across the world as it becomes more than just an investment, but something people will use day to day:
“As crypto moves from the current ‘investment phase’ into what we call the ‘utility phase,’ a host of new use cases will present themselves. 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.”
Coinbase has been rapidly expanding its offerings as of late. In February, Coinbase announced it was adding support for Ripple (XRP), and earlier this month, the exchange added support for EOS (EOS), Augur (REP), and Maker (MKR), and introduced cross-border payments, which allows users to send and receive money nearly instantly using Ripple or USDCoin (USDC), their U.S. Dollar-pegged stablecoin. And just last week, Coinbase launched Coinbase Card in partnership with Visa, which allows UK-based customers to pay with cryptocurrency, which the card automatically converts to fiat.