Coinbase is developing a service which will specifically target Australia' self-managed pensions sector, the exchange's Asia-Pacific Managing Director John O’Loghlen told Bloomberg.
Analyst Own Lau noted higher trading volume, the recent approval of the spot bitcoin ETFs, and a potential win in the company’s lawsuit against the SEC as the main drivers for the upgrade.
The U.S. presidential election is an important short-term catalyst for Coinbase and the wider industry, and could lead to more regulatory clarity, analysts said.