Cryptocurrency exchange Coinbase has announced the launch of an international arm as the platform is struggling with scrutiny in the US from the local regulator.
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In a blog post Tuesday, the exchange said the new platform called Coinbase International Exchange will be available to "non-US institutions in select jurisdictions."
Although the exchange declined to elaborate further, it said the new platform would focus on institutional clients. It is unclear if retail investors can register on the platform. The international arm is being regulated by the Bermuda Monetary Authority (BMA), where Coinbase earlier secured a license.
As iHodl earlier reported, Coinbase selected Bermuda as one of its international hubs, saying the BMA is a "highly respected and experienced financial regulator." Besides Bermuda, the company is also in talks with Abu Dhabi's financial regulator to get "a potential license for a regulated exchange."
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