Offshore Platform

According to reports, two sources said that Coinbase, the cryptocurrency exchange, is exploring the launch of an offshore platform to launch permanent swaps related to cryptocurrencies, as the company hopes to break the status quo of the industry dominated by its competitor, Coinbase. According to people familiar with the matter, Coinbase has briefed market makers and trading companies on plans to launch the platform in offshore jurisdictions, where permanent swap contracts will be included. Derivatives provide traders with a more capital efficient way to bet on the underlying cryptocurrency market. Source: The proposed overseas platform of Coinbase will provide derivatives trading Analysis based on this information:Coinbase, one of the largest cryptocurrency exchanges in the world, is reportedly exploring an offshore platform to launch permanent swaps related to cryptocurrencies. The move is aimed at challenging its competitors and breaking the status quo of the industry. Two sources familiar with the matter have stated that Coinbase has briefed market makers and trading…