Coinbase Launches International Exchange as US Tensions Grow

Coinbase Global Inc. is launching an international derivatives exchange for institutional crypto traders outside the US, seeking to diversity its business amid souring relations with American regulators.

The new platform, Coinbase International Exchange, will list Bitcoin and Ether perpetual futures starting this week after it received a license last month from the Bermuda Monetary Authority.

With the move, Coinbase is entering a market dominated by offshore players, such as Binance, the world’s biggest crypto exchange, and previously FTX before its collapse. The company with roots in San Francisco has been facing mounting legal uncertainty after receiving a Wells Notice ...