Crypto exchange Coinbase has been given the green light to offer perpetual digital asset futures to investors outside the US.
At a new company blog postthe largest US-based crypto exchange platform by volume announces that its international arm has received regulatory approval to offer perpetual crypto futures trading to eligible non-US traders.
“In May 2023, we announced the launch of Coinbase International Exchange: a new, non-US exchange, accompanied by a Class F license from the Bermuda Monetary Authority (BMA) to enable non-US institutions to trade perpetual futures .
Today we are pleased to announce that Coinbase International Exchange has received additional approval from the BMA to expand perpetual futures trading to non-US retail customers. In the coming weeks, we will offer eligible customers access to regulated perpetual futures contracts on Coinbase Advanced.”
According to Coinbase, the global derivatives market is in high demand as it accounts for approximately 75% of crypto trading volume worldwide. Coinbase says it is expanding economic freedom in a secure and regulated way by meeting that demand.
“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 …
Our perpetual futures contracts are built within strict compliance standards at Coinbase International Exchange and have already seen over $5.5 billion in notional trading volume from institutions as of the second quarter.”
The crypto exchange says some features that set it apart from other derivatives exchanges include proving it holds customer assets at a 1:1 ratio, using the stablecoin USD Coin (USDC) for liquidity and insurance instead of an exchange token . and not concerned with market formation.
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