Coinbase expands to Latin America and Southeast Asia

20 Apr, 2019 | Updated: 20 Apr, 2019
by Richard Allen
Coinbase expands to Latin America and Southeast Asia

Major US crypto exchange Coinbase recently announced the addition of 11 new markets in Latin America and Southeast Asia as part of the company’s global expansion plans.

The announcement comes shortly after its expansion in the UK market saw revenue grow by 20% to $173 million, as well as the recent news of its Coinbase card. Furthermore, according to Reuters, Coinbase recorded $520 million in revenue last year.

Coinbase has had its eyes on Latin America for some time. As such, access to trading services in countries like Argentina, Mexico, Peru, Colombia, and Chile won't come as a major surprise to those in the region.

Southeast Asia also presents a major opportunity for the exchange, given the booming cryptocurrency market especially in Japan and South Korea. India, Hong Kong, South Korea, Indonesia, the Philippines, and New Zealand now have access to Coinbase services.

As Coinbase states, this time last year their services were available in 32 countries. Today, they serve customers in 53. With the addition of the recently added Andorra, Gibraltar, Guernsey, Isle of Man, Lithuania, and Iceland, Coinbase is well on its way to becoming a truly global cryptocurrency exchange.

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