A leading US Coinbase exchange spreads the word that is has added 11 more countries to its list of customers, including India, where the RBI last year banned banks from working with any crypto company
On April 17, Coinbase wrote in its official blog that now traders in 11 more countries can enjoy using the platform’s services for crypto-to-crypto traders.
After moving to the new countries, the
exchange is now working with customers in 53 regions around the world.
Coinbase enters India, South Korea and Hong Kong
As per the message in the blog, Coinbase has
now enabled crypto fans to join in on trading in the following countries, New
Zealand, India, South Korea, Mexico, Hong Kong, and a few others.
Traders now can buy and sell crypto for crypto on Coinbase Pro, as well as Coinbase.com. Besides, users will be able to conduct crypto transactions on the Coinbase mobile app.
Coinbase expands its market
In 2018, Coinbase worked with users in 32
countries around the world. Over the last year, the exchange set itself a goal
to expand to as many parts of the globe as possible to let people access Coinbase
Now, more countries in Asia and Latin America
have joined the trading area covered by Coinbase. Apart from trading, customers
can also store, transfer and receive crypto coins.
As per the blog, Coinbase is willing to help
the world create a new system of finance:
“Realizing our mission of creating an open financial system for the world starts with making it as easy as possible to access crypto. With today’s announcement, we’re happy to take an important step in that direction.”
What Coinbase arrival means for India
The fact of Coinbase expanding is crucial for the crypto community of India. Last year, the Reserve Bank of India (RBI), the country’s Central Bank, banned regulated banks from working with companies or physical entities that deal with cryptocurrencies. This includes crypto exchanges and individual traders.
The ban caused some Indian exchanges, e.g. Zebpay, to cease work and shut down. Some exchanges there started using P2P trading, though. Still, the arrival of Coinbase is extremely significant for the local community.