The exchange announced plans to accelerate its “Go Broad, Go Deep” international strategy over the next two months by launching new products and services across six continents.

Coinbase has begun talks with its existing international customers, including market makers and institutional investment firms, to create a separate platform headquartered outside the U.S.

Although Coinbase already operates in more than 100 countries, all of these subsidiaries direct customers to the same U.S. trading platform.

With $2.8 billion in trading volume in the past 24 hours, Coinbase is now the second-largest spot exchange by trading volume – though it’s far behind Binance, which has 11 times the trading volume. CoinMarketCap is owned by Binance.

But it has little involvement in the very lucrative crypto derivatives business with its new Coinbase Derivatives Exchange, a Commodity Futures Trading Commission-regulated platform that it acquired in January 2021. That will change with a new global trading platform that will offer derivatives as well as spot trading.

The internationally headquartered platform will also offer the company an alternative to the U.S., which is embroiled in a regulatory crackdown that intensified after the bankruptcy of Sam Bankman-Fried’s FTX exchange and doubled last week after the collapse of three cryptocurrency banks, including the two most important, Silvergate Bank and Signature Bank.

And this comes after a terrible 2022. The Nasdaq-listed exchange posted a net loss of $2.6 billion on revenue of $3.15 billion, far less than half of the $7.35 billion in 2021.

A week after its recent “Go Broad, Go Deep” announcement, Coinbase pointed to the U.K. as a potential global crypto hub.

The “Go Broad, Go Deep” announcement also mentions Brazil, the UAE, Australia, Hong Kong, Switzerland, Bermuda and Japan as aspiring crypto-hubs.