- It comes amid an SEC crackdown
- The exchange will begin trading by listing BTC and ETH futures
On May 2, Coinbase announced the launch of the Coinbase International Exchange (CIE), a cryptocurrency derivatives exchange.
The CIE will begin trading this week by listing perpetual futures on BTC and ETH. All settlements will be made in USDC stablenecoins, which are pegged to the U.S. dollar.
Coinbase noted that trading on the platform is available to institutional customers through APIs in relevant non-U.S. jurisdictions.
“These products are not currently available to retail customers,” the company said.
The crypto exchange also said in a statement that the new crypto platform is launched with support from Bermuda regulators.
In late April, Coinbase received a Class F license from the Bermuda Monetary Authority (BMA). This license allowed the exchange to be operated, as well as activities such as selling and issuing tokens.
It was previously reported that Coinbase was planning to create a global cryptocurrency exchange by mid-March 2022.
May 2 Coinbase was sued for “illegal” collection of customer data. Michael Massel sues company in California District Court.
In it, he argued that the exchange violated Illinois’ user biometrics privacy laws by collecting data through KYC procedures.
In it, the exchange violated the state of Illinois’ biometric privacy laws by collecting data through KYC procedures.