Coinbase Global COIN has expanded its service to the United Kingdom. Coinbase users in the UK can now borrow USDC against their Bitcoin, Ethereum and Coinbase Wrapped Staked Ether (cbETH) via Morpho on Base. This marks its continuous efforts to be the industry’s premier “everything exchange.”

Providing crypto-backed loans in the UK marks an important step in Coinbase’s broader expansion strategy, following the service’s initial rollout in the United States in January 2025. The offering has seen strong demand in the United States, with total loan originations via Coinbase on Morpho surpassing $2.17 billion in USDC as of April 14, 2026. Coinbase intends to further extend access to crypto-backed loans across additional countries in the near future.

Early this month, COIN’s Australian unit, Coinbase Australia Pty Ltd, received an Australian Financial Services Licence (“AFSL”). It can now offer crypto and equity perpetuals to Australians, followed by futures and options. This was also part of COIN’s international expansion strategy. 
COIN’s international operations are spread across Australia, Brazil, Kenya, the European Union, India, Japan, the Philippines, Indonesia, Singapore, the United Kingdom and Switzerland, among others. 

Coinbase’s international expansion underscores its efforts to diversify revenues and lower dependence on U.S. operations. Revenues from international operations in 2025 increased 61% year over year. However, its contribution to total revenues contracted 100 basis points year over year to 16% in 2025.  Revenues from U.S. operations still constitute the majority of its top line.

Circle Internet Group’s CRCL international expansion strengthened its position as a global fintech powerhouse. By expanding its footprint across Europe, Asia and Latin America, Circle has gained stronger access to regulated digital markets. By accelerating global USDC adoption, Circle positions itself for sustained growth and leadership in the rapidly evolving digital financial ecosystem.

Robinhood Markets’ HOOD international expansion enables it to tap into rising global retail investing demand. By establishing operations in the United Kingdom and Asia, Robinhood broadens revenue streams and reduces reliance on U.S. markets. With strategic acquisitions and regional hubs, Robinhood is well-positioned for sustained growth and a stronger presence in the global fintech landscape.

Shares of COIN have lost 6.4% in the year-to-date period, underperforming the industry.