In what is a massive milestone for the international exchange, Coinbase trading volume outside of the US has surpassed $1 billion. Indeed, Coinbase International Exchange took to X (formerly Twitter) to reveal that it had reached the benchmark figure yesterday.
Within the post, Coinbase International stated that its perpetual futures had exceeded the $1 billion mark in notional contract trading volume. Moreover, they included a link to observe market data for the exchange. Subsequently, the exchange debuted to non-US customers in certain regions in May of last year.
Also Read: Coinbase is Executing Brilliantly, Says Cathie Wood After Selling COIN Shares Worth $26.7 Million.
Coinbase International Surpasses $1 Billion in Trading Volume
So far in 2024, Coinbase has seen a rather positive year. Just two months in, the cryptocurrency exchange has seen its Q4 earnings surpass expectations. Ultimately, that forced Wall Street experts to upgrade the rating on the exchange as the perception turned bullish.
Now, the firm’s operations outside of the United States have reached a significant milestone this week. Specifically, Coinbase has seen its trading volume outside of the US surpass $1 billion. Indeed, Coinbase International confirmed the landmark achievement in a post on Tuesday.
Also Read: Coinbase Earnings Surpass Expectations as Analysts Turn Bullish
The exchange first launched in Bermuda in May 2023 and was available to non-US customers. Moreover, it debuted with Bitcoin (BTC) and Ethereum (ETH) perpetual futures. Specifically, these are derivatives contracts that give traders the ability to speculate on price action with no implanted expiry date or delivery of that asset.
However, since it opened Coinbase International has expanded its offerings to its ever-growing user base. Specifically, it supports cryptocurrencies like Cardano (ADA), Solana (SOL), Ripple (XRP), Polygon (MATIC), Dogecoin (DOGE), and more.
That list of supported digital assets is expected to continue expanding throughout this year. Indeed, those developments should also further the usage and trading volume of the exchange. Only time will properly tell if the recent accomplishment is the beginning of establishing momentum for the international crypto exchange.