Coinbase has announced the expansion of its services into the Asian & European market with over-the-counter (OTC) trading desks and Coinbase Custody services, according to the official announcement.
"This new feature will allow Coinbase customers in many countries throughout Asia and Europe to access Coinbase’s deep pool of crypto liquidity for the first time," the announcement states.
The announcement states that for customers in countries where fiat rails are not yet available, the exchange will now "support inbound and outbound SWIFT transfers from non-US bank accounts."
The head of Coinbase’s institutional business, Dan Romero, told The Block that Coinbase "had ambitions to expand internationally as part of a broader strategy shift."
It’s worth noting that earlier, another major player in the crypto space — Binance — launched its Europe-focused fiat-to-crypto exchange, which allows to trade in BTC/GBP, ETH/GBP, BTC/EUR, and ETH/EUR trading pairs.
Subscribe to our Telegram channel to stay up to date on the latest crypto and blockchain news.