Coinbase announces cross-border transfers for institutional clients in Asia and Europe

Posted 22 January, 2019

Coinbase, a US-based crypto exchange, opens new services to its Asian, European, and UK customers with an opportunity to conduct cross-border transfers.

The company announced Tuesday that it is going to launch international wire transfers SWIFT enabling customers that still cannot replenish accounts with fiats in their countries using non-US bank accounts. This move will help to attract new clients and open access to the exchange for those that may use the exchange services for the first time.

In addition, US and European clients will get access to a new OTC platform while Asian clients will be able to use trading and custody services.

"In addition to being able to deposit, withdraw, and trade USD through Coinbase Prime, clients in Asia will also have access to our widely-adopted stablecoin, USDC," reads the press release.

Besides, certain prime customers of Coinbase will be allowed to use its custody cold storage service.

The company stresses that it will never trade for or against its customers. Moreover, the platform claims it never conclude deals pursuing its own interests. The new solution is targeting cryptocurrency hedge funds, traditional trading firms, family capital management units, etc.

Coinbase announced the start of an OTC trading platform in November 2018. 

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