Coinbase said it will begin offering spot crypto trading services on its international exchange on Wednesday as the company expands its base beyond the United States.

Spot trading on the company's international exchange, which is currently geared toward derivatives trading, will roll out in phases starting with the digital currencies bitcoin and ether against USDC stablecoin on Dec. 14, Coinbase said in a blog post.

Bloomberg News first reported on the development.

The U.S. Securities and Exchange Commission sued Coinbase in June for allegedly selling unregistered securities, which the company denies, part of a broader U.S. crackdown on the industry following some high-profile collapses including FTX.

Coinbase's shares edged 0.5% higher on Wednesday after rising nearly four times so far this year.

  - Reuters