Coinbase International, an extension of Coinbase Global Inc. targeting non-US clients, will introduce Perpetual Future Contracts for four prominent assets—Cardano (ADA), Chainlink (LINK), Dogecoin (DOGE), and Stellar (XLM) on December 30 at 10 am UTC.
This strategic move aims to broaden its offerings, contingent upon meeting liquidity requirements.
Coinbase Follows Strategic Positioning
In navigating ambiguous US regulations, Coinbase formed Coinbase International, emphasizing global outreach. The inclusion of ADA, LINK, DOGE, and XLM reflects Coinbase’s ambition to embrace a more extensive user base in the digital currency realm.
Coinbase meticulously selects assets, factoring their industry standing and alignment with international regulations. While supporting Bitcoin and Ethereum futures, the platform’s addition of XRP futures ensued post a pivotal US legal ruling.
Judge Analisa Torres’ ruling on July 13 distinguished XRP as the only altcoin exempt from being labeled an investment contract in the US, thereby warranting its inclusion on the international platform.
Reasoning Behind Asset Choices
The selection of ADA, LINK, DOGE, and XLM occurred due to their unique propositions and dedicated communities. Cardano’s trailblazing innovations, Chainlink’s role as a premier Oracle service provider, along with the distinctive appeal and user following of Dogecoin and Stellar played pivotal roles in their selection for Coinbase International Exchange listing.
Coinbase International’s forthcoming listing of ADA, LINK, DOGE, and XLM futures contracts also signifies a strategic expansion, seeking wider engagement in the digital currency sphere. Further, the selection of these assets mirrors Coinbase’s commitment to regulatory compliance and their significant positions within the cryptocurrency landscape.
Lastly, this move not only diversifies the platform’s offerings but also amplifies its reach to cater to a more global and diverse clientele, while seeking exposure to a broader spectrum of digital assets.