San Francisco-based bitcoin payments processor Coinbase has launched a regulated virtual currency trading exchange in the US, backed by $106m from the New York Stock Exchange, banks and venture-capital firms.
The Coinbase Exchange will help stabilize the bitcoin network and will provide a secure platform for bitcoin trading.
Go deeper with GlobalData
Access deeper industry intelligence
Experience unmatched clarity with a single platform that combines unique data, AI, and human expertise.
The exchange will allow Coinbase users in 24 US states and territories to immediately trade on the exchange with no fees through March 30 and charge 0.25% of most transactions thereafter.
Coinbase will initially make the exchange available to users in the US, with plans to expand overseas in the future.
A Duke University finance professor Campbell R. Harvey told the Wall Street Journal: "To have an organized exchange that has the backing of thoughtful venture capitalists and investors addresses one of the main problems with bitcoin: its extreme volatility."
Coinbase CEO Brian Armstrong said: "Our goal is to become the world’s largest exchange."
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalData
