Coinbase To Enable Perpetual Futures For Eligible Non-US Retail Customers

Zinger Key Points
  • Coinbase says global crypto derivatives market represents 75% of total crypto trading volume.
  • Coinbase's futures contracts see $5.5 billion notional trading volume from institutions by Q2.

Coinbase International Exchange, initially established for non-U.S. institutional trading, has secured regulatory clearance from the Bermuda Monetary Authority (BMA) to offer perpetual futures trading to non-U.S. retail customers.

This move aligns with the discussions at Benzinga's Future of Digital Assets conference on Nov. 14, emphasizing the evolving landscape of digital asset trading.

What Happened: The decision to expand access to the global derivatives market came as part of Coinbase's "Go Broad, Go Deep" strategy.

In a blog post, Coinbase stated that while it advocates for the U.S. to lead in updating the financial system, this recent development signifies its intent to modernize the global financial system, aiming to provide more economic freedom to users worldwide.

Also Read: EXCLUSIVE: Bittrex CEO Discusses Blockchain, DeFi And Trouble With UK Regulators

Coinbase's perpetual futures contracts, available on the International Exchange, have already recorded more than $5.5 billion in notional trading volume from institutions by the end of the second quarter, it stated.

The company attributed this success to its adherence to the BMA's regulatory framework, emphasizing risk management, compliance and user protection.

Distinguishing itself from competitors, Coinbase stated it assured customers of the safety of their assets, backed by audited financial statements that confirmed a 1:1 holding of customer assets.

Additionally, the International Exchange boasts a well-funded Insurance Fund and Liquidity Support Program, primarily in USD Coin USDC/USD.

Coinbase further stated it refrained from market-making, relying instead on vetted, independent liquidity providers.

Read Next: Gemini Withdrew $282M From Genesis Global Months Before Bankruptcy Filing: Report

Meet and engage with transformative Digital Asset and Crypto business leaders and investors at Benzinga's exclusive event: Future of Digital Assets. Tickets are flying: Get yours

Photo: Shutterstock

Market News and Data brought to you by Benzinga APIs
Comments
Loading...
Posted In: CryptocurrencyNewsGlobalMarketsBermuda Monetary AuthorityCoinbase International Exchangecrypto derivativesCrypto technologycrypto tradingDigital AssetsPerpetual futures trading
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!