Coinbase and its professional trading platform Coinbase Pro have introduced crypto-to-crypto conversions and trading to 11 more countries in Latin America and Southeast Asia. The product is now also available to Argentina, Mexico, Peru, Colombia, Chile, India, Hong Kong, South Korea, Indonesia, the Philippines and New Zealand.
Coinbase customers in the aforementioned countries can now store, trade, send, and receive cryptocurrencies. The exchange suggests in the post that cryptocurrencies’ are moving from the current “investment phase” into the “utility phase” following a number of new use cases. Coinbase explains:
“This could take the form of decentralized versions of traditional financial services like lending or micropayments or truly novel crypto applications that no one has even thought of yet. The ability to convert from one crypto to another will form the backbone of this new decentralized economy.”
Recently, Coinbase introduced several new developments, including adding support for EOS (EOS), Augur (REP) and Maker (MKR) and expanding into cross-border payments. The latter development reportedly enables users to send and receive money instantly, as well as convert them into local currency.
Earlier in April, Coinbase also launched Coinbase Card with Visa, which enables its United Kingdom-based customers to pay in-store and online with cryptocurrency. The new service allows Coinbase to instantly convert customers' cryptocurrency funds into fiat currency in order to complete the purchase.