Coinbase Integrates AI for Enhanced Trading Automation

<p>The growing
prevalence of artificial intelligence (AI) in the trading world presents
investors with many new opportunities for trade automation. The cryptocurrency
exchange, Coinbase, has decided to capitalize on this by collaborating with
Coinrule, offering over a million retail customers tools that facilitate daily
trading.</p><p>Coinbase Joins Forces with
Coinrule in Implementing AI</p><p>Coinrule is
a platform that offers automated strategies for the digital asset market,
<a href="https://www.financemagnates.com/cryptocurrency/kucoin-signs-partnership-with-coinrule-to-offer-automated-trading/" target="_blank" rel="follow">working with</a> the most prominent exchanges worldwide. With the advancement of
artificial intelligence capabilities, it has expanded its range of tools,
which will benefit Coinbase Advanced customers. </p><p>Coinbase
Advanced was formerly known as <a href="https://www.financemagnates.com/cryptocurrency/news/coinbase-to-shut-professional-crypto-trading-platform-coinbase-pro/" target="_blank" rel="follow">Coinbase Pro</a>, which underwent a name change in
2022. Experienced traders can use its features, benefiting from a broader range
of available instruments and more advanced charts. According to current
Coinbase statistics, over one million retail customers are now using the
Advanced features.</p><p>"We
are immensely proud to be among the first trading strategies platforms to start
working together with Coinbase Advanced. Helping retail investors access
powerful AI tools is our mission," said Gabriele Musella, the CEO of
Coinrule.</p><p>From now
on, investors can utilize tools provided by Coinrule, which
encompass three basic types of services. These include bots, a live market
scanner, and pre-built AI strategies. Within Coinbase Advanced, investors can
create up to 100,000 different automated bots or choose from a range of
previously designed trading systems. The real-time market scanner monitors
price changes for 2,000 different tokens and determines specific entry rules
for potential positions.</p><p>"We
want to give retail investors the tools to be able to compete with professional
traders. Our integration with Coinbase is a major step forward on this journey,"
added Musella.</p><p>Coinbase's Significant
Moves in North America</p><p>The
<a href="https://www.financemagnates.com/terms/c/cryptocurrency-exchange/">cryptocurrency exchange</a> which Brian Armstrong led recently announced that brighter
days are ahead after a series of regulatory challenges in the US. The platform
<a href="https://www.financemagnates.com/cryptocurrency/patience-pays-coinbase-receives-approval-for-crypto-futures-trading-in-the-us/" target="_blank" rel="follow">has received regulatory approval</a> from the National Futures Association (NFA) to
offer crypto futures to its US institutional customers.</p><p>This
decision will undoubtedly help Coinbase regain some of its lost market share in
the US cryptocurrency sector. Both Coinbase and Binance suffered <a href="https://www.financemagnates.com/cryptocurrency/after-binance-sec-sues-coinbase-over-illegal-operation-of-crypto-exchange/" target="_blank" rel="follow">significant
losses</a> after the SEC lawsuits in June, with the latter's market share in the local
market dropping below 1%.</p><p>Meanwhile,
the company <a href="https://www.financemagnates.com/cryptocurrency/coinbase-expands-to-canada-unveils-new-features-in-partnership-with-peoples-trust-company/" target="_blank" rel="follow">has broadened its services to Canada</a> in collaboration with Peoples
Trust Company. According to Coinbase's statement, this partnership enables more
users in Canada to access digital assets by simplifying transfers. However, a
few days later, they had <a href="https://www.financemagnates.com/cryptocurrency/coinbase-responds-to-canadian-regulations-suspends-usdt-dai-and-rai-stablecoins/" target="_blank" rel="follow">to suspend trading</a> of prominent stablecoins, namely
Tether (USDT), Dai (DAI), and RAI Reflex Index (RAI). This major move was
reportedly in response to regulatory changes in the country.</p>

This article was written by Damian Chmiel at www.financemagnates.com.