COIN is trading at $184.10 (+5.1%) in pre-market after securing an Australian Financial Services Licence (AFSL) from ASIC, marking a major milestone for its global expansion.
- Coinbase is the first crypto exchange to receive approval for equity trading and retail derivatives in Australia, providing a significant competitive advantage in the region.
- The stock is benefiting from a broader crypto surge, with BTC up 3.14% to $71,625 and ETH climbing 6.29% to $2,253 since the previous close.
- Positive sentiment is further bolstered by a global market rally following reports of a US-Iran ceasefire.