Crypto exchange Coinbase has recently announced that its international exchange has received regulatory approval from the Bermuda Monetary Authority (BMA) to offer perpetual futures to non-U.S. retail customers. This move marks a significant milestone for Coinbase as it aims to tap into the largest sector of the cryptocurrency trading market.
Expanding Access to Perpetual Futures
Coinbase’s international exchange allows institutional traders outside the United States to trade Bitcoin (BTC) and Ethereum (ETH) perpetual futures. By securing regulatory approval from the Bermudian financial authority, Coinbase has opened up its perpetual futures offering to non-U.S. retail customers as well. Users can verify their eligibility on the platform, and those who meet the criteria will gain access to the product in the coming weeks.
Coinbase’s decision to establish a presence outside the United States is in line with its vision of playing a pivotal role in modernizing the global financial system. The platform has already seen over $5.5 billion in notional trading volume from institutions as of the second quarter, despite its relatively new launch. By expanding access to perpetual futures, Coinbase is furthering its mission to provide more economic freedom and opportunity to users worldwide.
Derivatives trading accounts for approximately 75% of the total crypto trading volume, making it a lucrative market to enter. Coinbase recognizes the limited number of reputable players in the derivatives market and positions itself as a key contender in this domain. The regulatory approval from the Bermuda Monetary Authority serves as a gateway to a substantially larger market base, solidifying Coinbase’s position in the cryptocurrency trading market.
An Ongoing International Expansion
This licensing development is just one step in Coinbase’s international expansion journey. The exchange has already secured licenses in several European countries, including the Netherlands, Spain, Ireland, and Italy. These regulatory approvals demonstrate Coinbase’s commitment to operating within the legal frameworks of different jurisdictions and its dedication to expanding its global reach.
Coinbase’s international exchange is breaking new ground in the cryptocurrency trading market. The recent regulatory approval from the Bermuda Monetary Authority to offer perpetual futures to non-U.S. retail customers marks a significant milestone for Coinbase. As it continues its international expansion, Coinbase aims to provide greater access, economic freedom, and opportunity to users around the world. By tapping into the derivatives market, Coinbase positions itself as a key player in the industry, opening up substantial opportunities for growth and development.
