Coinbase Secures Approval to Offer Perpetual Futures Trading for Non-US Retail Users
Coinbase has received regulatory approval to offer perpetual futures trading services to retail customers outside the United States.
In a Thursday blog post, the largest US-based crypto exchange said it has received additional regulatory approval from the Bermuda Monetary Authority (BMA) to offer perpetual futures trading to non-US retail users.
"In the coming weeks, we will begin to offer eligible customers access to regulated perpetual futures contracts on Coinbase Advanced," the announcement said.
Coinbase International Exchange, the exchange's international division, has already facilitated over $5.5 billion in notional futures trading volume from institutional clients in the second quarter of this year.
With this new approval, Coinbase aims to expand its offering to retail customers as well.
Derivatives trading plays a significant role in the global crypto market, accounting for approximately 75% of the total trading volume.
Acknowledging this, Coinbase seeks to tap into the growing demand for perpetual futures trading among retail investors.
In the announcement, Coinbase also said it is looking to work "with forward-looking regulators" to establish a comprehensive regulatory framework that fosters crypto innovation while ensuring consumer protection.
“As announced in the Phase II of our “Go Broad, Go Deep” strategy, we are dedicated to partnering with high-bar global regulators to build a crypto regulatory framework that allows crypto technology to continually drive innovation,” the exchange stated.
Coinbase claimed that a well-defined regulatory framework is essential for the long-term growth and adoption of cryptocurrencies.
Coinbase's international strategy focuses on 24 countries, including G20 members, as well as
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