As the current digital currency ecosystem continues to evolve, American Nasdaq-listed cryptocurrency exchange, Coinbase Global Inc is set to take its products global. In a recent blog post shared by the company’s co-founder and Chief Executive Officer, Brain Armstrong, the firm is set to streamline its listing process, while making rolling out additional products to its customers.
According to Armstrong, the cryptocurrency ecosystem is fast-moving from just the Bitcoin trading it started off with when the company was founded back in 2012, to such that new use cases are being introduced. To catch a leading spot in the new crypto economy, the company said its United States, United Kingdom, and Europe-focused products will now be shipped to users globally.
“We put a huge amount of effort into working with regulators in the US, UK, EU, etc. which has generated an enormous amount of value for customers in these regions, but it can also lead to products that are hyper focused on the western world. We’re going to flip this approach on its head by shipping more products in international markets on day one, while still partnering with regulators in more established markets to ensure our products are compliant with their local rules,” Armstrong said in the blog post.
Crypto Ecosystem Intensifies Now Replete with New Use Cases
To truly tap into the evolving ecosystem, the Coinbase boss said the firm will henceforth reduce the burden on asset issuers. This he noted will be done by reducing its legal review “from 70 questions to 12 questions that get at what most raises concerns under the law.” Additionally, Coinbase will champion the creation of a crypto app store to accommodate the wide variety of DApps being introduced by developers.
The cryptocurrency ecosystem is fast transforming from just a space where digital currencies are traded, to that in which use cases are evolving. These use cases range from Non-Fungible Tokens (NFTs) to Decentralized Finance (DeFi), and the advent of applications that brings crypto closer to solving real-world problems.
As one of the first publicly listed crypto trading platforms, Coinbase is seeking to take charge of the growing innovations in order to beat the prospective market competition.