Coinbase has launched a new set of financial services that target high-volume traders in Asia and Europe. The biggest feature: the exchange now supports SWIFT transfers that will allow clients in Asia to fund their accounts from banks based outside the U.S.

Coinbase, one of the most popular US-based digital asset exchanges, has announced the launch of two new financial services. The move is seen as the company’s attempt to branch into the alternative market, a prudent move when considering the impact of the U.S. government shutdown on domestic markets.

According to a company announcement, high-volume Coinbase Pro and Prime customers in Asia and Europe will now be able to use SWIFT transfers to fund their Coinbase accounts from banks based outside of the U.S.

Coinbase Prime is a separate entity from Coinbase and is the company’s professional trading platform for institutional clients. Coinbase Pro, on the other hand, is aimed at professional traders.

Coinbase now also enables high-volume traders living in Europe and Asia to use the company’s new over-the-counter trading desk and cold storage service, Coinbase Custody.

While the new options Coinbase introduced might not attract more day-traders, it represents a huge step forward when it comes to attracting large institutional investors. In its announcement, the company said that the cryptocurrency market has resulted in “hundreds of crypto-focused hedge funds launching around the world,” and Coinbase saw the opportunity to serve them.

By introducing cross-border SWIFT payments, Coinbase managed to expand to countries where fiat-to-crypto exchange options are still unavailable. The move has also allowed the company to more easily navigate central banks and other government restrictions.

The move opens up a host of new options for traders in Asia and Europe to choose from. The exchange’s clients in Asia will be given access to USDC, Coinbase’s widely accepted stablecoin. Meanwhile, a few select clients across Europe and Asia have also been given access to Coinbase Custody, an institutional-grade service optimized for storing large amounts of cryptocurrency in a “highly secure way,” Coinbase explained in its post.

These services may be perceived as more ‘trustworthy’ in these markets. The exchange’s custodial service is directly regulated by the New York Department of Financial Services as a New York banking trust. This makes it especially attractive to ‘whales,’ or large traders, as most cryptocurrency trading platforms are geared to small-time traders.

Coinbase’s move is seen by some as a step forward for cryptocurrency, embodying the innovations needed for more structured adoption while reflecting an increased appetite from institutional traders. Perhaps moves like these will give the industry the legitimacy it needs.

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