On Tuesday, January 22, cryptocurrency exchange platform Coinbase made two announcements on the launch of new financial services that are now available throughout Asia and Europe.
Coinbase first announced that clients that trade in high volumes of cryptocurrency in Asia will now be able to utilize Coinbase's enterprise blockchain platform, as well as its cold storage wallet service. This rollout of new services is intended to allow investors using the Coinbase exchange to "fund their accounts from non-US bank holdings" through "inbound and outbound international (SWIFT) wire transfers."
Additionally, these customers will have access to Coinbase's USDC stablecoin, and can trade the stablecoin for US dollars and vice-versa free of charge when using the Coinbase Prime platform.
According to Coinbase's second announcement, high-volume customers living in Europe who use the Coinbase Pro and Coinbase Prime platform will also be able to take advantage of cross-border wire transfers to build their Coinbase accounts. European customers will also have access to Coinbase's stablecoin and its cold storage wallet service.
Additionally, high-volume traders living in Europe and Asia who use the Coinbase Prime platform may utilize Coinbase's recently launched over-the-counter trading desk.
The new services are part of a steady expansion plan for Coinbase. In July of 2018, it announced that it would offer services to customers living in Japan. In December, it announced launches in several European countries and territories.
