Coinbase announces cross-border wire transfers for whales in Europe and Asia

22 Jan, 2019 | Updated: 22 Jan, 2019
by Richard Allen
Coinbase announces cross-border wire transfers for whales in Europe and Asia

San Francisco-based cryptocurrency exchange Coinbase has announced the launch of cross-border wire transfers for high-volume customers in Asia and Europe.

In the announcement, the exchange stated that for customers in countries where fiat payment rails aren’t yet available, Coinbase will now support inbound and outbound SWIFT transfers from non-US bank accounts.

“This new feature will allow Coinbase customers in many countries throughout Asia and Europe to access Coinbase’s deep pool of crypto liquidity for the first time.”

Additionally, Coinbase is also offering new OTC trading desks in the US and Europe and offering Coinbase Custody for high-volume clients in Asia and Europe.

Read more: If I'm not a Bitcoin whale, then what am I?

Regarding the exchange’s wire transfer service, traders will be able to use the USDC stablecoin which is fully backed by dollar reserves held by Coinbase.

The launch of the OTC desk will allow select customers to execute large volume trades without having a huge impact on the crypto’s price.

“Coinbase’s OTC desk is agency only, meaning that we never trade on a principal basis or against our clients. Coinbase never trades on a proprietary basis,” the announcement stated.

Read more: Coinbase UK exec sees "big developments" in crypto regulation by 2021; Andreessen Horowitz-backed startup Blockspring acquired by Coinbase

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Read more about:Coinbase


Will Coinbase continue to be #1?

(79 votes)

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It's disgusting to see how Coinbase is trying to promote all its shit projects
22 Jan, 2019 - 19:44
team is doing it all the time. they hope good marketing will help them. it will not help..
26 Jan, 2019 - 18:22
almost every day Coinbase releases any news to make a hype. any small change became the news. what a shame
22 Jan, 2019 - 20:11
no hype will help coinbase to grow..
31 Jan, 2019 - 06:05
Coinbase time is over. but it provide petty attempts to get out of the hole by releasing news for money
22 Jan, 2019 - 20:42
these attempts will not help coinbase to grow again
23 Jan, 2019 - 07:46
It was necessary to make such updates much earlier. After several years of fraud Coinbase will be difficult to return to its former reputation!
23 Jan, 2019 - 22:58
so many fake news from Coinbase that i don't see normal news about reliable platforms
22 Jan, 2019 - 21:06
these post is not fake. just new way to scam more users
29 Jan, 2019 - 09:14
Coinbase uses every possibility to appear in headlines. Company spends crazy money on this cheap PR instead of making something useful to their users.
22 Jan, 2019 - 21:14
i'd say this is a new feature not for customers but for Coinbase to steal the money from users
22 Jan, 2019 - 21:40
one more way for Coinbase to fuck over everybody especially in Asia and Europe )
22 Jan, 2019 - 22:56
heheh, sure thing. nice that you mentioned it. users should go away from coinbase
29 Jan, 2019 - 09:18
bank transfers in cryptoindustry just think how much they know about us ordinary users
22 Jan, 2019 - 23:04
All this would be very cool, if not the quality of service in the last half of the year.
Coinbase is very deteriorated, work is not possible. It's a shame, because I worked for a coinbase, but he is no longer number one.
23 Jan, 2019 - 06:15
Coinbase even here is trying to promote USDC
23 Jan, 2019 - 20:08
again news
i feel that the most important for Coinbase is to release any news but not to fix the terrible services
23 Jan, 2019 - 20:56
This idea is important for people! But this is a question will it be implemented by Coinbase or remain an idea?
23 Jan, 2019 - 21:53
Coinbase is trying to attract more new users abroad. There is one huge plus new users don't know a lot about Coinbase problems and bad attitude to traders.
23 Jan, 2019 - 22:48
It would be better if Coinbase spent this time and energy on improving their service, not on fake news
24 Jan, 2019 - 14:18
It is a huge update in any case. But how many news have we heard about Coinbase fraud? Wash trading, insider trading, freeze accounts, and other news have painted CB reputation in the bad color. I don`t know how to use it if the scam is inside
24 Jan, 2019 - 20:56
i'd say that every idea of Coinbase indicated in the articles doesn't have the future at all
24 Jan, 2019 - 21:17

why to touch Asia? never enough for Coinbase
25 Jan, 2019 - 20:04
Is there any reason for them to provide trades only with USDC? Pretty sure there is some conspiracy between Circle and Coinbase.
26 Jan, 2019 - 10:01
haha Asia doesn't even know what Coinbase is. When some of customer accounts will be freezed without any ground reason the war will be started
26 Jan, 2019 - 21:27
Coinbase should not bite Asians. If Coinbase continues to scam, the Asian market will forever close the partnership for this exchange.
27 Jan, 2019 - 10:15
Asians are not so stupid. They will see Coinbase's true colours
30 Jan, 2019 - 12:24
hope not serious stuff by Coinbase
28 Jan, 2019 - 11:40
I think Asia will be next after Wall Street who will punch Coinbase in the face out by the scam reason
31 Jan, 2019 - 09:08
Coinbase decided to harm the Asian market? I would not be surprised if Asians rejected Coinbase as Wall Street did it in a short time.
04 Feb, 2019 - 17:18
there are many okay exchanges in Asia, dont think coinbase gets popularity there
07 Feb, 2019 - 16:39

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