Tag: Coinbase

Coinbase issues clarification after reports of it ceasing services in India

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Coinbase has issued a clarification after a circulating report suggested that it would soon halt all operations for its Indian customers. According to a Sept. 11 report from TechCrunch, Coinbase India users were reportedly warned via email that all services would be discontinued by Sept. 25, and were urged to to remove any funds that remained on the exchange. Coinbase said in an email that it would stop providing all trading services to users in India after September 25 and advised users to withdraw all funds in their accounts. Additionally,…

Coinbase increases USDC interest rate after SEC confirms stance on stablecoins

Coinbase has reportedly increased interest rates on USDC holdings to 5%, marking a notable improvement from the 4% rate introduced earlier in the year.  The San Francisco-based crypto exchange hiked the interest offered to holders of its USD Coin (USDC) to 5%, only months after effecting another increase that doubled the stablecoin’s annual percentage yield from 2% to 4%. JUST IN: Coinbase are increasing the interest rate for their stablecoin, USDC, to 5%. — Whale (@WhaleChart) September 10, 2023 Rewards for holding such coins are regulatory compliant. The increments have…

Coinbase prioritizes international expansion amid US litigation

Coinbase outlines a strategy for international growth, focusing on countries with clearer cryptocurrency regulations. Coinbase, a cryptocurrency exchange headquartered in the United States, has announced its intentions to concentrate its near-term operations in countries with more defined cryptocurrency regulations. In a blog post on Sept. 6, vice presidents Nana Murugesan and Tom Duff Gordon identified six key markets: the European Union, United Kingdom, Canada, Brazil, Singapore, and Australia. The post elaborated that these regions have been making strides in creating clearer rules around cryptocurrency, which makes them attractive for business…

Coinbase Advanced’s Moheeth Alvi sees pro traders as next wave of crypto users

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Moheeth Alvi, group product manager at Coinbase Advanced, joins Cointelegraph’s Hashing It Out podcast with host Elisha Owusu Akyaw for an in-depth discussion about pro traders in the cryptocurrency space.  The podcast starts by highlighting Coinbase’s eventful year so far, from new products to the launch of its layer-2 network Base and the “Onchain Summer” campaign that followed. Alvi says the team believes this is the best time to build, and the company is focused on figuring out how to bring the next billion users to crypto. He also explains…

Coinbase to Prioritize Crypto Markets Outside of US in Its Expansion Strategy

Coinbase’s vice presidents for international business and international policy are clearly dissatisfied with the regulatory situation in the United States. Coinbase is strategically expanding its cryptocurrency exchange services globally, with a particular emphasis on markets with clear regulatory frameworks. In its short-term expansion strategy, Coinbase is prioritizing countries outside the United States based on their well-defined cryptocurrency regulations. Notable countries in this selection include the European Union, the United Kingdom, Australia, Canada, and Singapore. The regulatory clarity in these regions is crucial for the exchange’s operations. Coinbase’s vice presidents for…

Coinbase signals EU, Canada, Brazil, Singapore and Australia as priorities

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Coinbase has flagged several countries outside the United States where it intends to focus its operations in the near term, citing their comparatively clearer crypto laws. In a Sep. 6 blog post, Coinbase’s international business VP, Nana Murugesan and international policy VP, Tom Duff Gordon, marked the European Union, United Kingdom, Canada, Brazil, Singapore and Australia as “near-term priority markets.” The pair said the countries are “enacting clear rules” and Coinbase would focus on “acquiring licenses, registering, and establishing and strengthening operations” in them. Globally, countries are vying to become…

Coinbase (COIN), Circle (USDC), Aave Create Advocacy Group for Tokenized Real-World Assets

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Coinbase to Launch Crypto Lending Service for Institutional Clients

In addition to the failed Lend program, Coinbase has attempted other lending services in the past. Coinbase has announced that it is working on a crypto lending service for institutional clients in the United States. A September 1 filing with the US Securities and Exchange Commission (SEC) shows that the company has already raised $57 million to go towards the project. The service would help fill the hole left in the market after the implosion of major crypto lenders like Genesis and BlockFi last year.  The exchange reportedly plans to…