With an increased Australian offering, Coinbase’s vice president of international and business development said that authorities and legislators had “difficult questions” about the exchange’s services.
Coinbase, a cryptocurrency exchange located in the United States will extend its services in Australia with the formation of a local business and an enhanced portfolio of services for retail crypto traders, indicating that institutional goods are near.
Coinbase’s vice president of international and business development, Nana Murugesan, told Cointelegraph that investments made during down markets “pay off handsomely during the bull run” and that he is optimistic about the local market.
Murugesan says that the “baseline indications” in Australia, such as the local knowledge of crypto and the number of individuals who perceive it as the future of finance, are “about the same or even better” than in the U.S. and other markets.
“Australia undoubtedly punches far above its weight in the APAC area, as well as on a worldwide scale, and I’m optimistic about its contribution to revenue in the future.”
“We’ve been extremely pleased with the open door we’ve had in Canberra and from other policymakers,” said Murugesan, adding that the exchange has been asked “difficult questions” about its platform and token listings.
Murugesan said that he believes Australian institutions would want to “do everything locally” and that Coinbase will be “extremely focused on institutions” in the coming months, despite not being able to provide a particular date for when the service will be made accessible.