San Francisco based most prominent American cryptocurrency exchange and wallet provider Coinbase has expanded its crypto-to-crypto trading to more 11 countries. Coinbase announced on April 17 through an official blog post on its website.
Coinbase is a cryptocurrency exchange headquartered in San Francisco, California U.S. It broke exchanges and trading of all major cryptocurrencies including Bitcoin, Ethereum, Bitcoin Cash, Litecoin and Ethereum Classic with fiat currencies in approximately 32 countries, and bitcoin transactions and storage in 190 countries across the globe.
According to the official blog post from Coinbase, the cryptocurrency exchange and its professional trading platform Coinbase Pro have launched crypto-to-crypto conversions and trading to 11 more countries in Southeast Asia and Latin America. The newly introduced product is currently available in Argentina, Colombia, Chile, Hong Kong, India, Indonesia, Mexico, New Zealand, Peru, Philippines and the South Korea,
The cryptocurrency exchange’s users in the mentioned countries can now trade, send, and receive all the cryptocurrencies held by the Coinbase. The official blog post suggests that the cryptocurrencies’ are shifting from the current “investment phase” into the “utility phase” following a number of new use cases.
Coinbase further explained in the blog post,
“This could take the form of decentralized versions of traditional financial services like lending or micropayments or truly novel crypto applications that no one has even thought of yet. The ability to convert from one crypto to another will form the backbone of this new decentralized economy.”
Coinbase launched various new developments, including adding support for EOS [EOS], Maker (MKR) and Augur [REP]. In addition the exchange is expanding into cross-border payments which will reportedly facilitates users to send and receive money instantly, as well as convert them into any local currency.
Last week CoinMarketFeed reported, Coinbase new launch of Coinbase Card with Visa, which provides its United Kingdom-based customers to pay online and in-store with cryptocurrency. The newly added service will enable the exchange to convert customers' cryptocurrency funds into fiat currency instantly in order to complete the purchase.
Earlier in April, CEO of Coinbase Brian Armstrong and long-time Bitcoin endorser, has issued a list of what he believes cryptocurrency needs to accomplish in order to reach mass adoption.
While speaking at 45-minute Ask Me Anything [AMA] session published to YouTube on April 2 Armstrong highlighted three things that are important to both crypto and Bitcoin growth, namely volatility, scalability and usability.