Coinbase, the major US-based cryptocurrency exchange and wallet provider rolls out crypto-to-crypto trading to 11 more countries and territories.
Coinbase, the US-based cryptocurrency exchange and wallet provider, has rolled out crypto-to-crypto trading to 11 more countries and territories, bringing the total to 53.
Both Coinbase and Coinbase Pro now allow crypto-to-crypto conversions and trading for customers in Argentina, Chile, Colombia, Hong Kong, India, Indonesia, Mexico, New Zealand, Peru, the Philippines, and South Korea.
The news was announced on the Coinbase blog, where it was also observed that crypto was moving from the “investment phase” to the “utility phase” – giving rise to “a host of new use cases”. The post’s authors, Linda Xie from Coinbase Pro, and Dan Coffman from Consumer Trading, expanded on this, saying:
“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.”
Supporting this, it was also noted that direct trading between cryptos was the new norm, overtaking traditional fiat to crypto trading globally over the past year.
Coinbase, along with other major exchanges like Binance, are at the forefront of efforts to bring crypto usage into the mainstream, making it easier to both obtain cryptocurrency and use if for day-to-day transactions.
For example, despite the termination of the Shift Visa card in the US on the 11th April (read more), a day earlier the company announced the roll out of Coinbase Card with Visa to UK customers.
The debit card allows consumers to make purchases using their cryptocurrency, which is instantly converted to fiat, wherever they see the Visa symbol – which, in the UK at least, is almost everywhere. The company has also said they intend to offer the card in other European countries soon.
AYO.NEWS says:
Over the past year or so, the mainstream media have alternated between declaring crypto (or as they refer to all crypto, ‘bitcoin’) dead, or ignoring it completely. But, behind the scenes of the ‘Crypto Winter’, the trading and utility infrastructure has transformed the major cryptocurrencies into genuinely useful assets – not only for investments and specialist online purchases, but also for every day purchases.
More than a few people have predicted crypto adoption will unfold in a similar way to internet adoption – it’s there, in the background for ages, then all of a sudden it’s a critical part of our lives, but no one can quite remember the transition phase actually happening!
