Coinbase International Exchange has achieved a significant milestone in its mission to expand access to regulated cryptocurrency derivatives. The exchange has received regulatory approval from the Bermuda Monetary Authority (BMA) to introduce perpetual futures trading for eligible non-US retail customers.
This development follows Coinbase’s earlier announcement in May 2023 regarding the launch of its international exchange and the class F license obtained from the BMA for non-US institutional trading of perpetual futures.
Coinbase, known for its reputation as a trusted and secure crypto platform, has emphasized its commitment to operating with utmost transparency and adhering to robust risk management practices.
The regulatory and compliance standards set by the BMA are expected to be met and upheld rigorously by the exchange in its perpetual futures trading operations.
Coinbase Advanced Platform
The launch of perpetual futures trading on Coinbase Advanced is set to begin in the upcoming weeks. This powerful retail trading platform will soon provide eligible customers with access to regulated perpetual futures contracts. This development marks a significant advancement in expanding the availability of these derivatives to a global audience.
Coinbase’s strategic approach aligns with its “Go Broad, Go Deep” strategy, which aims to collaborate with high-bar global regulators in shaping a crypto regulatory framework that fosters innovation while maintaining financial system integrity.
While Coinbase’s roots are in the United States, extending perpetual futures trading to non-US customers reflects its commitment to updating the global financial system and providing economic opportunities worldwide.
In a climate where many cryptocurrency exchanges face heightened regulatory scrutiny and withdraw from certain regions, the exchange’s regulatory approval offers optimism for the crypto community.
The global market for crypto derivatives, which accounts for about 75% of all crypto trading worldwide, shows a strong demand for derivative trading. In the second quarter, Coinbase’s perpetual futures contracts witnessed impressive participation from institutions, with a notional trading volume exceeding $5.5 billion and being carefully designed to comply with strict standards.
The eligibility check for non-US retail traders to access perpetual futures on Coinbase Advanced is now underway, marking the beginning of an exciting new phase. Official trading is expected to commence in the near future.
However, with the exchange’s expansion into regulated derivatives trading, a significant moment arises within the crypto industry, highlighting their steadfast commitment to global financial innovation.
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