Crypto exchange Coinbase has announced that its international exchange has obtained regulatory approval from the Bermuda Monetary Authority (BMA) to offer perpetual futures to non-U.S. retail customers. This approval allows Coinbase to expand its services and tap into the lucrative derivatives market.

Increased Access to Perpetual Futures

Coinbase has launched an international exchange that enables institutional traders outside of the United States to trade Bitcoin (BTC) and Ethereum (ETH) perpetual futures. With the latest approval from the BMA, Coinbase can now extend this offering to eligible non-U.S. retail customers, providing them with greater access to perpetual futures trading.

This regulatory approval holds strategic significance for Coinbase as it aims to enter into the largest sector of the cryptocurrency trading market. Derivatives trading accounts for approximately 75% of the total crypto trading volume, presenting a substantial opportunity for Coinbase to grow its market base. By positioning itself as a key player in the derivatives market, Coinbase aims to become a reputable and influential entity in the industry.

Coinbase’s decision to establish a presence outside the United States aligns with its mission to play a pivotal role in modernizing the global financial system. By expanding access to perpetual futures for eligible non-U.S. customers, Coinbase aims to provide more economic freedom and opportunity worldwide. This move reinforces Coinbase’s commitment to updating the global financial landscape.

Although the international exchange is relatively new, it has already witnessed significant success. Notional trading volume from institutions reached over $5.5 billion in the second quarter, highlighting the demand and trust placed in Coinbase. This success positions Coinbase as a reliable and reputable platform in the derivatives trading market.

Expanding International Presence

This recent regulatory approval is another milestone in Coinbase’s international expansion journey. The exchange has already obtained licenses in various European countries, including the Netherlands, Spain, Ireland, and Italy. These licenses enable Coinbase to offer its services to a broader customer base and establish itself as a leading global cryptocurrency exchange.

With the regulatory approval from the BMA, Coinbase is well-positioned to continue its growth and expansion in the derivatives market. The company’s focus on increasing access to perpetual futures and its commitment to modernizing the global financial system solidify its position as a key player in the cryptocurrency industry. As Coinbase continues to innovate and expand, it will likely attract more users and establish itself as a trusted and influential platform worldwide.

Regulation

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