Coinbase International Exchange lists BTC and ETH perpetual futures contracts
Coinbase International Exchange will enable institutional users based in eligible jurisdictions outside of the US, to trade perpetual futures.
Perpetual futures accounted for nearly 75% of global crypto trading volume in 2022, creating highly-liquid markets and offering traders additional versatility in their trading strategies.
Building out a global perpetual futures exchange for digital assets will help support an updating of the financial system by making Coinbase’s trusted products and services more accessible to users of digital assets who live outside of the US. As more and more markets are moving forward with regulatory frameworks to become crypto hubs, Coinbase says it believes the moment is right to launch this international exchange.
Coinbase International Exchange listed BTC and ETH perpetual futures contracts earlier today. All trading is settled in USDC; no fiat on-ramps required. The contracts initially offer up to 5x leverage. Direct access trading via API is available to institutional clients in eligible, non-US jurisdictions. These products are not available to retail customers at this time.
Coinbase International Exchange works with the Bermuda Monetary Authority (BMA).
Coinbase stated:
“Rest assured that Coinbase is committed to the US, but countries around the world are increasingly moving forward with responsible crypto-forward regulatory frameworks to strategically position themselves as crypto hubs. We would like to see the US take a similar approach instead of regulation by enforcement which has led to a disappointing trend for crypto development in the US”.