Coinbase announced this week that it is expanding its customer base by providing crypto-to-crypto services to an additional 11 countries from Latin America and Southeast Asia. In its blog announcement, the company noted that it will now serve customers in a total of 53 countries on four continents.
The announcement highlighted the rise of crypto-to-crypto trading:
Direct trading between cryptos is increasingly the new norm and in the last year has overtaken traditional fiat to crypto trading across the globe. Millions of Coinbase customers can now securely and quickly trade between different cryptos and send crypto off-platform at their convenience.
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.
Coinbase and Coinbase Pro services will now be available to customers is Argentina, Chili, Columbia, Hong Kong, India, Indonesia, Mexico, New Zealand, Peru, the Philippines, and South Korea. Those customers can now receive, store, send, and trade cryptocurrencies through those services, as Coinbase continues its efforts to expand its reach to “people in all corners of the globe.”