Launched to support global expansion efforts, the exchange has attracted 50 institutions and traded $5.5 billion in the initial seven weeks, while also navigating regulatory challenges.
Coinbase’s offshore derivatives exchange has experienced a surge in daily trading volumes, reaching $287 million on August 18.Connect/Create WalletNo wallet? No problem. You can set one up for free. We recommend Torus for first-time users.Coinbase's offshore derivatives exchange has seen volumes surge towards $300 million per day, according to data from The Block's data dashboard.
As per its shareholder letter, the firm has onboarded 50 institutions onto the new market and traded $5.5 billion within the first seven weeks of trading. Here's a relevant passage from the letter: While we are in the early days of investing to build liquidity and grow institutional participation, we are also working to bring new features and additional products to market over the second half of the year, such as additional asset trading books and spot trading. We remain committed to partnering with high-bar global regulators and are encouraging the US to follow the progressive regulatory frameworks seen in emerging crypto hubs.
Bitcoin futures volumes across derivatives exchanges have been on a steady decline since peaking in the spring, falling from $1.3 trillion during March to $608 billion in July, according to The Block's data dashboard. © 2023 The Block Crypto, Inc. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
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