Crypto exchange Coinbase has announced that it has an international exchange received approval from Bermuda Monetary Authority (BMA) regulators to offer perpetual futures to non-US retail customers.
According to Coinbase, users can verify their eligibility for this offer on the platform, with those who meet the criteria gaining access to the product in subsequent weeks.
Earlier this year, Coinbase had launched an international exchange that allowed institutional traders outside the United States to trade perpetual futures in Bitcoin (BTC) and Ethereum (ETH). At the time, the exchange had received approval from the Bermuda Financial Authority. Despite its relatively new launch, the platform has already seen more than $5.5 billion in notional trading volume from institutions as of the second quarter.
Coinbase explained that its decision to establish a presence outside the United States aligns with its vision to play a critical role in modernizing the global financial system. The platform underlined this commitment by saying:
“By expanding greater access to perpetual futures to eligible non-U.S. customers, we are excited to advance our mission to help modernize the global financial system and deliver greater economic freedom and opportunity to users around the world .”
Meanwhile, this move is strategically important for Coinbase as it aims to tap into the largest sector of the cryptocurrency trading market. Derivatives trading accounts for approximately 75% of total crypto trading volume, making this license a gateway to a significantly larger market base.
Coinbase recognizes the relatively limited number of reputable players in the derivatives market and is positioning itself as a major competitor in this space.
This licensing development is yet another step in Coinbase’s international expansion journey. The exchange has already acquired licenses in several European countries, including the Netherlands, Spain, Ireland and Italy.
The post Coinbase Approved to Offer Perpetual Futures Trading to Non-U.S. Residents by the Bermuda Monetary Authority appeared first on CryptoSlate.
