Coinbase to Launch an Exchange Overseas

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Coinbase Global Inc. is exploring the potential of creating a new trading platform in a jurisdiction outside of the US, as reported by Bloomberg, citing sources.

The company is currently consulting with its institutional customers about connecting to the alternative exchange, though its specific location has yet to be determined.

Although a Coinbase spokesperson declined to provide further details, they did mention that they are evaluating different geographical options and meeting with government officials from countries with strict regulations as part of their mission to promote global cryptocurrency adoption.

Currently, Coinbase services are available in over 100 countries, but all of its transactions are processed through its US-registered platform.

The talks come in response to increasing government scrutiny of the industry and a series of major cryptocurrency-friendly bank bankruptcies.