Crypto exchange Coinbase has been given the green light to offer perpetual digital asset futures to investors outside of the US.
In a new company blog post, the top US-based crypto exchange platform by volume announces that its international arm has received regulatory approval to offer perpetual crypto futures trading for eligible non-US traders.
“In May 2023, we announced the launch of Coinbase International Exchange: a new, non-US exchange, accompanying a class F license from the Bermuda Monetary Authority (BMA) to allow non-US institutions to trade perpetual futures.
Today, we are excited to announce that Coinbase International Exchange has received additional regulatory approval from the BMA to extend perpetual futures trading to non-US retail customers. In the coming weeks, we will begin to offer eligible customers access to regulated perpetual futures contracts on Coinbase Advanced.”
According to Coinbase, the global derivatives market is in demand as it makes up about 75% of crypto trading volume worldwide. Coinbase says that it’s expanding economic freedom in a safe and regulated way by filling that demand.
“In expanding greater access to perpetual futures to eligible non-US customers, we are excited to further our mission to help update the global financial system and provide more economic freedom and opportunity for users around the world…
Our perpetual futures contracts have been built within rigorous compliance standards on Coinbase International Exchange and have already seen over $5.5 billion in notional trading volume from institutions as of Q2.”
The crypto exchange says that some features that set it apart from other derivatives exchanges include being able to prove that it is holding customer assets at a 1:1 ratio, using the stablecoin USD Coin (USDC) for liquidity and insurance rather than an exchange token, and not engaging in market making.
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