From NBCUniversal:

Coinbase is set to expand its offering to professional and institutional EU customers through the acquisition of a holding company with a MiFID II license, allowing it to provide regulated derivatives trading in Europe. Regions of the EU where derivatives are prohibited will be excluded from these offerings. The company is also working to ensure compliance with EU’s regulations and global standards on transparency and sanctions.

Derivatives trading is a key battlefield for Coinbase as the company aims to compete in the crypto market, given that 75% of overall crypto trading volumes are derivative-based. Binance, one of its larger rivals, has seen trading volume of more than $56.6 billion in futures contracts in the past 24 hours. In comparison, Coinbase’s international derivatives exchange did $300 million of futures trading volume.

Coinbase’s move into derivatives is part of its broader international expansion strategy, as it seeks to diversify and expand beyond the U.S., particularly amidst regulatory challenges and the pursuit of better market opportunities overseas. The company has also secured regulatory licenses in Ireland and France as part of its continued efforts to expand its presence and offerings in the international crypto market.



Read more: Coinbase to expand crypto derivatives in EU with license acquisition