With direct trading between cryptos becoming more popular than fiat-to-crypto trading, Coinbase expanded its crypto-to-crypto trading service to 11 more countries across Latin America and Southeast Asia.
The U.S-based cryptocurrency exchange now added Argentina, Colombia, Chile, Hong Kong, India, Indonesia, Mexico, New Zealand, the Philippines, Peru, and South Korea to the list for trading between cryptos. With this, the trading is now available in 53 countries.
The customers in these countries can now store, trade, send and receive cryptocurrencies on Coinbase Pro, the platform for trading cryptocurrrencies, Coinbase said in its blog post.
The exchange believes that the crypto-to-crypto conversion will serve as the backbone of the new decentralized economy where the cryptocurrency’s “investment phase” is giving way to “utility phase.”
Earlier this month, Coinbase had added three altcoins – EOS, Augur’s REP and MakerDAO’s MKR to its retail trading platforms.
The exchange also recently introduced Coinbase Card, a Visa debit card that lets customers spend their crypto balances direct from their Coinbase account.