### Coinbase, the public cryptocurrency exchange in the US, is set to launch a new institutional platform for trading cryptocurrency derivatives worldwide, called the Coinbase International Exchange (CIE). Despite facing legal obstacles in the United States, Coinbase is pushing ahead with its plan to offer perpetual futures contracts for Bitcoin and Ethereum through CIE.

Coinbase highlighted that the new platform is exclusively for qualifying institutional clients outside the United States and is accessible through an API. The exchange clarified that the products are not yet available to retail customers.



<blockquote className="twitter-tweet"><p lang="en" dir="ltr">Today Coinbase launched Coinbase International Exchange <a href="https://twitter.com/CoinbaseIntExch?ref_src=twsrc%5Etfw">@CoinbaseIntExch</a> and will begin by offering BTC &amp; ETH perpetual futures settled in USDC with up to 5x leverage to institutional clients in eligible jurisdictions outside of the U.S.<a href="https://t.co/OzhbgJlZ2K">https://t.co/OzhbgJlZ2K</a></p>— Coinbase 🛡️ (@coinbase) <a href="https://twitter.com/coinbase/status/1653385513011740672?ref_src=twsrc%5Etfw">May 2, 2023</a></blockquote> 



Brian Armstrong, CEO of Coinbase, expressed his concern last month that crypto firms might thrive in "offshore havens" if the United States and the UK will not provide much clearer guidelines for the industry.



Coinbase's move to expand globally comes amid regulatory scrutiny in the United States. The US Securities and Exchange Commission (SEC) has been increasing its efforts to regulate the cryptocurrency industry, with a particular focus on cryptocurrencies being regarded as securities. However, Coinbase and other crypto companies believe that crypto is a global phenomenon that transcends national borders.

Coinbase, the public cryptocurrency exchange in the US, is set to launch a new institutional platform for trading cryptocurrency derivatives worldwide, called the Coinbase International Exchange (CIE). Despite facing legal obstacles in the United States, Coinbase is pushing ahead with its plan to offer perpetual futures contracts for Bitcoin and Ethereum through CIE.

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