Coinbase adds ADA, LINK, DOGE, XLM perpetual future contracts

Coinbase International Exchange, a division of Coinbase Global Inc. focused on serving clients outside the United States, has announced the addition of four new digital assets to its trading portfolio. The move, scheduled for December 30, will see the inclusion of Perpetual Future Contracts for Cardano (ADA), Chainlink (LINK), Dogecoin (DOGE), and Stellar (XLM), marking a strategic effort to diversify and enhance its services for international clients.

Expanding global reach with diverse cryptocurrencies

This latest development from Coinbase International Exchange is set to introduce trading pairs for ADA, LINK, DOGE, and XLM, expanding the platform’s existing range of cryptocurrencies, which includes Bitcoin (BTC), Ethereum (ETH), and XRP, among others. The scheduled launch at 10 am UTC on December 30 is contingent upon meeting necessary liquidity conditions, a standard practice in the trading sector.

Furthermore, the exchange’s decision to list these particular cryptocurrencies aligns with their respective standings and popularity in the digital currency ecosystem. Each of these assets, including the likes of Cardano and Chainlink, has carved a unique niche in the market. Cardano has been in the limelight for its continued development and innovative advancements, while Chainlink has solidified its position as a leading Oracle service provider within the industry. The inclusion of Dogecoin and Stellar reflects their distinct appeal and dedicated user bases, factors crucial for Coinbase in its strategic asset selection process.

Coinbase’s strategic asset selection

The selection of assets for support by Coinbase is a meticulous process, primarily influenced by regulatory compliance and market standing. The addition of ADA, LINK, DOGE, and XLM aims to adhere to global regulatory standards while reaching a broader segment of traders within the digital currency ecosystem.

This diversification comes as a response to the complex and sometimes unclear regulatory landscape in the United States. To adequately cater to its international clientele, Coinbase has had to innovate and adapt, establishing Coinbase International. This offshoot enables the firm to navigate varying global regulations while expanding its service offerings.

Regulatory landscape influencing decisions

The regulatory environment is pivotal in shaping Coinbase’s business strategies, especially concerning asset support and service offerings. The decision to list XRP futures on its international platform, for instance, followed a significant legal development where XRP was distinguished from other altcoins in the U.S. market. This distinction stemmed from a ruling by Judge Analisa Torres, which deemed XRP the only altcoin not to be classified as an investment contract in the United States.

Coinbase’s expansion into international markets with its diversified asset offerings reflects its commitment to adapting to the regulatory frameworks of different regions. By choosing to list ADA, LINK, DOGE, and XLM, the crypto exchange is broadening its portfolio and strategically positioning itself in the global digital currency market.

Overall, Coinbase International Exchange’s decision to list these four new digital currencies is a testament to its ongoing efforts to cater to a diverse and global client base. The exchange aims to strengthen its position as a leading player in the digital currency exchange sector by adapting to the regulatory landscapes and embracing the unique value propositions of various cryptocurrencies.