Crypto exchange Coinbase will open perpetual futures trading to retail customers outside the United States. This was reported on the company’s blog.
The company received approval to operate from the Bermuda financial regulator in April, and in May launched a service for institutions, Coinbase International Exchange. In the second quarter, futures trading volume on the “international” platform exceeded $5.5 billion.
“In the coming weeks, we will begin offering eligible customers access to regulated perpetual futures contracts through [платформу] Coinbase Advanced,” the company emphasized.
According to the US firm, about 75% of crypto asset trading comes from derivatives markets.
“We are committed to working with high-level global regulators to create a regulatory framework that will allow crypto technologies to continuously stimulate innovation,” Coinbase representatives noted.
Obtaining a license for the exchange in the island jurisdiction became part of a strategy called Go Broad & Go Deep. As part of this, the platform also updated its retail service in Singapore, modernized the user interface for customers in Brazil and entered into negotiations with the Financial Services Authority of the Abu Dhabi Global Market.
Let us remind you that Coinbase is discussing obtaining a license with Canadian regulators.
Previously, the company’s founder and CEO Brian Armstrong announced his readiness to leave the US market due to “regulatory uncertainty.”
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