Coinbase has obtained a financial services license in Australia and plans to expand its business into local stock trading and payments.

CoinFeed reported on April 8th that, according to Bloomberg, Coinbase has obtained an Australian financial services license and retail derivatives authorization from the Australian Securities and Investments Commission (ASIC), becoming the first cryptocurrency exchange to receive this direct approval. The company plans to expand into Australia, initially launching cryptocurrency and stock perpetual contract trading, and later expanding to futures, options, stock trading, and payment services. Coinbase stated that it is in discussions with several Australian financial institutions, including major banks, and is in talks with superannuation funds. Furthermore, Coinbase plans to launch fiat currency services in India within the coming weeks or months and expand its operations in Singapore.