Coinbase Announces Expansion in 11 New Countries

Coinbase Announces Expansion in 11 New Countries

Coinbase has expanded its service to now accommodate for 52 countries across 4 different continents.

The exchange platform announced the news on Wednesday that they had successfully welcome new countries across Southeast Asia and Latin America.

Now residents from Argentina, Mexico, Peru, Colombia, Chile, India, Hong Kong, South Korea, Indonesia, the Philippines and New Zealand. Users will now be able to store, trade, send, and receive cryptocurrencies on both Coinbase Pro and Coinbase.com.

Moving to the Latin America countries is particular of interest, as this region is rapidly becoming a hive of crypto activity. Binance are already heavily involved there, while cryptocurrencies such as Dash are also trying to gather traction in these areas.

In the blog post that stated the news, it is a reaction from cryptocurrencies move from “investment phase” to “utility phase” and the need to accommodate for new uses that are being presented.

Such examples they included were, “decentralized versions of traditional financial services like lending or micropayments or truly novel crypto applications that no one has even thought of yet.” With the ability to convert on crypto to another described as the “backbone”.

The blog went on to state, “Realizing our mission of creating an open financial system for the world starts with making it as easy as possible to access crypto. With today’s announcement, we’re happy to take an important step in that direction”.

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