There are allegations that Coinbase is seeking overseas locations after the US banking system was damaged.
Regulatory pressure in the US and the recent bankruptcy have affected all industries deeply. However, there have been allegations that Coinbase, one of the largest cryptocurrency exchanges, is looking for new locations abroad.
Coinbase Talks With Its Institutional Customers About Its Overseas Platform
According to three people with direct knowledge of the matter, he contacted institutional clients of Coinbase Global Inc. about their plans to launch a new crypto trading platform overseas.
Discussions with market makers and investment firms touched upon the possibility of creating an alternative location for global clients away from the main Coinbase market. The interviews were conducted in secret. The negotiations include moves to breathe from the intensifying US pressure on cryptocurrencies.
A source said that Coinbase has yet to decide where the platform will be, but is in talks with market makers about connecting to the new location.
A Coinbase spokesperson declined to comment privately on the discussions. However, he stated that he is considering geographic options and meeting “government officials in high-bar regulatory jurisdictions” in line with his mission to increase global crypto adoption.
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