Coinbase to Offer Perpetual Futures Trading to Retail Customers Outside the US
Coinbase, a leading cryptocurrency exchange, has announced that it has received regulatory approval to offer perpetual futures trading services to retail customers outside the United States. The approval was granted by the Bermuda Monetary Authority (BMA). Coinbase International Exchange, the exchange’s international division, has already been offering this service to non-U.S. institutional clients.
According to Coinbase, its international division has handled over $5.5 billion in notional futures trading volume from institutions in the second quarter of this year. The exchange highlights that approximately 75% of global crypto trading volume comes from derivatives market activity.
Coinbase emphasizes its commitment to partnering with global regulators to create a crypto regulatory framework that fosters innovation. The company is focused on 24 countries, including G20 members, and aims to advocate for more concrete international rules at next year’s G20 in Brazil.
Coinbase’s Woes in the US
In light of Coinbase’s ongoing struggles with the Securities and Exchange Commission (SEC), the company took a dig at U.S. regulatory uncertainty. It stated that it chose to build its business and become a public company in the U.S., hoping that the country would lead efforts to update the financial system. However, Coinbase remains determined to continue its mission of updating the global financial system and providing economic freedom worldwide.
Last month, Coinbase received regulatory approval from the National Futures Association (NFA) to operate as a futures commission merchant and offer eligible U.S. customers access to crypto futures.
Hot Take: Coinbase Expands Perpetual Futures Trading Services for Retail Customers Outside US
Coinbase has secured regulatory approval from the Bermuda Monetary Authority (BMA) to offer perpetual futures trading services to retail customers outside the United States. With its international division already serving non-U.S. institutional clients, Coinbase aims to capitalize on the growing demand for derivatives market activity in the cryptocurrency space. This expansion reflects Coinbase’s commitment to building a crypto regulatory framework in partnership with global regulators and driving innovation in the industry. Despite facing regulatory challenges in the U.S., Coinbase remains dedicated to updating the global financial system and providing economic freedom to users worldwide.
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