Coinbase Wallet Introduces Real-Time Balances as Exchange Expands to Spain
Coinbase Wallet has implemented support for real-time balance updates and near-instant transactions on Layer 2 (L2) networks like Arbitrum and BuildOnBase, according to a tweet by the company’s official Twitter account.
CEO Brian Armstrong expanded on this in his own tweet, stating that Coinbase has been working hard to reduce the cost and time required to confirm crypto payments in its digital wallet.
“Our ambitious goal is to get the average transaction under 1 second end-to-end. Instant, cheap, and global,” he wrote. “This is how we drive the next wave of utility and apps in crypto, and bring a billion people onchain.”
Coinbase expands to Spain
This news comes as crypto exchange Coinbase continues expanding globally. The company recently secured an AML registration with the Bank of Spain. Coinbase will be hosting a launch party at the European Blockchain Convention to celebrate this and its first hire in Spain.
The expansion in Spain is part of Coinbase’s ‘Go Deep, Go Broad’ international growth strategy across Europe.
At the same time, the exchange faces scrutiny from the Securities and Exchange Commission (SEC) in the US. In June 2023, the regulator charged the company with illegally operating its crypto trading platform.
However, Armstrong has been vocal about the need for clearer crypto regulations in the US. It appears the exchange is forging ahead with improving its products regardless.
In August, Coinbase filed a court motion asking for the SEC case to be dismissed, arguing the agency has no authority since the digital assets involved are not securities. The SEC opposed this, citing the Howey test, but Coinbase has received support from industry and lawmakers.
