Coinbase Launches 24-Hour US Stock Trading in UK
Summary
- Coinbase said it has launched a 24-hour US stock trading service in the UK, supporting crypto- and fiat-based trading.
- It said UK users can invest in US stocks using pounds sterling or Circle's dollar stablecoin, USDC, with zero fees and fractional investing from 1 pound.
- Coinbase said it has introduced a crypto-backed lending service in the UK and plans to launch a range of new products in the UK and EU as part of its Everything Exchange strategy.
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Coinbase, the US cryptocurrency exchange, has launched a 24-hour US stock trading service in the UK.
The Block reported on August 6 that Coinbase will begin a phased rollout of five-day-a-week, 24-hour trading in US stocks in the UK using cryptocurrencies and fiat currencies. Coinbase said this is the first time a crypto exchange in the UK has launched a US stock trading service.
UK users can trade US stocks on Coinbase using pounds sterling or Circle's dollar stablecoin, USDC. The service allows fractional investing starting at 1 pound. Trading is free of charge.
Coinbase recently introduced a crypto-backed lending service in the UK. The company said it launched the offering to reduce the inconvenience of managing traditional finance products and digital assets separately. It described the move as part of its long-term "Everything Exchange" strategy.
The company also signaled additional product launches ahead. Keith Grose, Coinbase's head of the UK and Europe, told The Block that Coinbase will roll out a range of new products in the UK and the European Union over the next few months. It is also building compliance infrastructure to support a broader strategy.
JOON HYOUNG LEE
gilson@bloomingbit.ioCrypto Journalist based in Seoul