Coinbase Launches International Exchange, Sees Strong Institutional Demand and Stock Growth
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Coinbase launched an International Exchange for institutional clients to trade Bitcoin and Ethereum outside the US.
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The exchange plans to expand access to retail users, add more assets, and implement new trading features in the coming months.
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Over 100 institutions joined since its launch in May, with $10B in perpetual futures volume in Q3.
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Coinbase stock is up over 348% year-to-date due to cost cuts, positive EBITDA, and a strong balance sheet.
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Wall Street analysts rate COIN stock as a Hold due to the big run-up in share price already this year.