The new features will be available only to users from “eligible jurisdictions” outside the United States.
Infrastructure provider Fireblocks has expanded its range of services by partnering with Coinbase to offer derivatives and trading products to institutional and retail investors.
As announced on June 10, the Fireblocks platform now supports trading perpetual futures and spot contracts with Coinbase International Exchange. This solution primarily targets institutional investors such as hedge funds, trading firms, and family offices.
Fireblocks highlighted the potential benefits for users, including the ability to trade perpetual and spot contracts under pre-defined governance policies and workflows designed to mitigate security risks and prevent unauthorized transactions. Perpetual trading involves speculating on future price changes without an expiration date or the obligation to own the asset, unlike spot trading, where the asset is immediately bought or sold.
These new capabilities are available only to users in “eligible jurisdictions” outside the United States. Coinbase International, based in Bermuda, does not specify which countries it serves on its website or in its Terms of Service.
The ongoing crypto bull market is providing Fireblocks with opportunities to expand its business. Recently, the company launched a custodian arm in the United States to meet the growing institutional demand for digital assets.
This new entity will initially offer custody services for Bitcoin, Ether, and three stablecoins, with plans to add more assets in compliance with New York Department of Financial Services (NYDFS) requirements.
The digital asset market is expected to continue growing as more traditional investors and financial institutions enter the space. This includes asset tokenization, which is seen as a key step in enhancing market liquidity. Institutions are increasingly interested in diversifying their portfolios with crypto assets, indicating a strong and growing institutional presence in the crypto industry.
The Fireblocks platform has handled transactions worth over $6 trillion for more than 200 million wallets globally. According to the company, it serves over 30 exchanges and 55 banks in the digital asset sector.
Summary Review: The partnership between Fireblocks and Coinbase International marks a significant step in broadening the accessibility and functionality of cryptocurrency trading for institutional investors. As the digital asset market continues to mature and expand, collaborations like this will play a crucial role in integrating traditional financial systems with emerging crypto technologies. This development not only highlights the growing institutional interest in digital assets but also underscores the importance of robust security measures and governance policies in fostering a reliable and trustworthy trading environment.
Disclaimer: Remember that nothing in this article and everything under the responsibility of Web30 News should be interpreted as financial advice. The information provided is for entertainment and educational purposes only. Investing in cryptocurrency involves inherent risks and potential investors should be aware that capital is at risk and returns are never guaranteed. It is imperative that you conduct thorough research and consult with a qualified financial advisor before making any investment decision.
