- Coinbase plans to expand aggressively in Asian and Latin America.
- They believe that crypto-to-crypto trading will form the backbone of the decentralized economy.
Cryptocurrency giants Coinbase announced that they are introducing crypto-to-crypto trading to 11 more countries. In a blog post, the San Francisco-based company said that they are extending their services to Argentina, Mexico, Peru, Colombia, Chile, India, Hong Kong, South Korea, Indonesia, the Philippines, and New Zealand.
According to the announcement, the main reason why they are doing this is because crypto-to-crypto trading will form the backbone of the decentralized economy:
“As crypto moves from the current “investment phase” into what we call the “utility phase,” a host of new use cases will present themselves. 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.”