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Coinbase, the best-known bitcoin and cryptocurrency exchange in the US to claim to have signed up for 50,000 retail accounts a day during the bitcoin run of 2017, is expanding its support for institutional and high-volume encryption.
Large Coinbase Pro and Prime customers in Asia, the UK and Europe will now be able to use cross-border credit transfers to fund their Coinbase Prime accounts, the exchange announced via a blog postwhile selected customers will also have access to Coinbase Custody and the over-the-counter Coinbase (OTC) counter, launched in the United States last year.
Coinbase based in San Francisco is one of the largest portfolios and exchanges of cryptocurrencies in the world.Getty
Coinbase now supports Swift transfers in and out of non-US bank accounts in countries where fiat-to-stock payments are not yet available.
Coinbase is trying to establish itself as one of the main actors in bitcoin trading and institutional cryptocurrencies like those in Hong Kong. Binance continues to expand internationally and the the traditional financial sector plunges into the crypt.
"The OTC trading desk, which went live in the US in November and then in the UK just before Christmas, has been well received so far," said Andrew Robinson, Head of Institutional Sales and Trading for Coinbase in Europe , Middle East and Africa.
"This latest update means that Coinbase customers outside the United States are now able to operate without a US bank account"Something we think will make a big difference to our trading volumes," & nbsp; Robinson added. & Nbsp;
OTC trading is done directly between two parties rather than on a stock exchange and Coinbase acts as an "agency" and earns commissions by performing client operations.
Coinbase, & nbsp; that was last year & nbsp;valued at a staggering 8 billion dollars, despite the bitcoin market that saw bitcoin's price lose 80% of its value in the last 12 months, has been cautious about its institutional business ambitions and high volume. & nbsp;
Bitcoin investors are taking a hangover after the epic run of 2017 sent the price to almost $ 20,000 per currency.CoinDesk
"Over the past 12 months, hundreds of cryptographic hedge funds have been launched around the world, and many hundreds of traditional institutions such as proprietary trading companies, family offices and equipment have actively started to exchange digital assets," Coinbase said in his blog announcement.
"We see a bright future in front of the crypt in Asia," added Coinbase. & Nbsp;
Meanwhile, Coinbase recently named Marcus Hughes as & nbsp;British Chief Counselor& nbsp; overseeing Morgan Stanley's international expansion. Hughes said he expects to see the big changes for bitcoin regulation in the world this year.
"Within the next year or two, we'll see big developments," Hughes said in an interview. "The regulation will take shape this year, particularly in Europe."
Hughes, who joined Morgan Stanley's investment bank shortly before the global financial crisis in June 2009, entered the cryptocurrency sector in the midst of a bearish market that has been labeled as winter cryptic for its debilitating effects on the industry.
"The point of view of managers like Morgan Stanley is that bitcoins and cryptocurrencies now still have power, they do not expect them to leave anytime soon."
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Coinbase, the best-known bitcoin and cryptocurrency exchange in the US to claim to have signed up for 50,000 retail accounts a day during the bitcoin run of 2017, is expanding its support for institutional and high-volume encryption.
Large Coinbase Pro and Prime customers in Asia, the UK and Europe will be able to use cross-border credit transfers to fund their Coinbase Prime accounts, the exchange announced via a blog post, while selected customers will also have access to the over the counter counter of Coinbase Custody and Coinbase, launched in the United States last year.
Coinbase based in San Francisco is one of the largest portfolios and exchanges of cryptocurrencies in the world.Getty
Coinbase now supports Swift transfers in and out of non-US bank accounts in countries where fiat-to-stock payments are not yet available.
Coinbase is trying to establish itself as one of the main actors for bitcoin and institutional cryptocurrency trading, while the names of Binance based in Hong Kong continue to expand internationally and the traditional financial sector plunges into the crypt.
"The OTC trading desk, which went live in the US in November and then in the UK just before Christmas, has been well received so far," said Andrew Robinson, Head of Institutional Sales and Coinbase Commerce in Europe , Middle East, and Africa.
"This latest update means that Coinbase customers outside the United States are now able to operate without a US bank account"Something we think will make a big difference to our trading volumes," added Robinson.
OTC trading is done directly between two parties rather than on a stock exchange and Coinbase acts as an "agency" and earns commissions by performing client operations.
Coinbase, which was last year valued at a glare eye $ 8 billion despite the bitcoin bear market that saw bitcoin's price lose about 80% of its value in the last 12 months, has been cautious about its institutional and high commercial ambitions volume.
Bitcoin investors are taking a hangover after the epic run of 2017 sent the price to almost $ 20,000 per currency.CoinDesk
"In the last 12 months, hundreds of cryptographic hedge funds have been launched around the world, and many hundreds of traditional institutions such as proprietary trading companies, family offices and equipment have actively begun to exchange digital assets," said Coinbase in his blog.
"We see a bright future ahead of cryptography in Asia," added Coinbase.
Meanwhile, Coinbase has recently named Marcus Hughes as his own British Chief Counselor overseeing Morgan Stanley's international expansion. Hughes said he plans to see big changes to bitcoin regulation around the world this year.
"Within the next year or two, we'll see big developments," Hughes said in an interview. "The regulation will take shape this year, particularly in Europe."
Hughes, who joined the Morgan Stanley investment bank shortly before the global financial crisis in June 2009, entered the cryptocurrency sector in the midst of a bearish market that has been labeled cryptic winter due to its debilitating effects on & # 39; industry.
"The point of view of managers like Morgan Stanley is that bitcoins and cryptocurrencies now still have power and do not expect them to disappear soon."
