Cryptocurrency company Coinbase Global is launching spot trading of digital currencies on its international platform as part of its expansion into foreign markets.
From December 14, institutional investors will have the opportunity to buy bitcoin (BTC) and ether (ETH) for USDC stablecoins, Bloomberg reports citing Coinbase’s press service.
Greg Tusar, head of the exchange’s institutional division, emphasized that spot and derivatives markets improve the liquidity of the cryptosphere.
Both retail and corporate investors should have access to virtual currencies.
According to CCData, spot trading on Coinbase collapsed 53% in the third quarter of 2023. Trader activity remained low due to stagnant digital currencies.
Since January, Coinbase shares have roughly quadrupled to $140 on the stock market. However, the cryptocurrency company’s securities were above $300 apiece in 2021.