According to a blog post dated April 17, Coinbase (major American cryptocurrency exchange and wallet provider) has rendered its crypto to crypto trading to another 11 countries. Coinbase along with Coinbase Pro (professional trading platform) have brought crypto to crypto trading in 11 jurisdictions (in Latin America and Southeast Asia).
As per reports, the product is now also available in Argentina, Mexico, Peru, Colombia, Chile, India, Hong Kong, South Korea, Indonesia, the Philippines, and New Zealand.
As per reports, users of Coinbase in the mentioned countries can now send, receive store and trade cryptocurrencies. In the blog post dated April 17, Coinbase suggests that cryptocurrencies are moving from the current ‘investment phase’ to the ‘utility phase’ because of numerous new use cases.
Coinbase further clarifies by saying that “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.”
Lately, the American based Exchange came out with a few new developments such as rendering support for EOS (EOS), REP (Augur) and MKR (Maker) along with expanding into cross border payments. According to reports, with the current development, users are enabled to send and receive money instantaneously, as well as convert them into local currency.
Earlier this month, Coinbase also floated Coinbase Card with Visa, which allows its users in the United Kingdom to pay in store as well as online using cryptocurrency. Reports suggest that the new service enables the platform to convert crypto instantaneously into fiat currency for customers to complete payment.