Coinbase plans to set up an offshore exchange amid increasing regulatory oversight in the U.S.
Bloomberg said on Friday that the leading crypto exchange Coinbase is looking to establish a new offshore cryptocurrency trading platform. However, the source didn’t clarify the type of products that the new platform would support.
According to the news, the platform is focused on perpetual future contracts, a popular smart contract in cryptocurrency.
Perpetual contracts are based on the Virtual Automated Market Maker mechanism to provide liquidity, creating the most accessible and secure decentralized derivatives trades.
Coinbase Goes Offshore
Coinbase has reportedly been in discussions with some of its partners and market makers for the setup of the new business outside the US jurisdictions. Coinbase hasn’t given any comment on the news at the time of writing.
In January, the exchange announced the acquisition of FairX, a derivatives…
