Coinbase Expands Global Reach with Perpetual Futures Trading Approval

Police & Regulations
Oct 3, 2023 at 10:52 am

Coinbase's push for worldwide presence received a significant boost with the recent approval from Bermuda's financial regulatory body.

As detailed in an official blog post on Thursday, the Coinbase International Exchange has successfully obtained regulatory clearance from the Bermuda Monetary Authority (BMA). This green light opens the door for eligible non-US retail traders to soon partake in perpetual futures trading on the Coinbase Advanced platform.

This strategic move seamlessly aligns with Coinbase's Phase II directive of the "Go Broad, Go Deep" initiative. This phase places a strong emphasis on collaborative efforts with reputable global regulatory bodies. The overarching goal is to forge a comprehensive and resilient regulatory framework for the cryptocurrency industry, fostering an environment conducive to technology-powered innovation.

The company had previously disclosed its intentions for a global expansion earlier this year in May, alongside the introduction of its all-encompassing exchange platform. As part of this expansion, Coinbase also introduced perpetual futures contracts for both BTC and ETH, further diversifying their product offerings.

Perpetual futures, a subset of the derivative market, operate without fixed expiry dates. This affords traders a fluid and adaptable environment to manage their positions and trading strategies over time. With this recent regulatory milestone, Coinbase is on track to provide an even wider array of trading options to its expansive global customer base.

Read more: Crypto Triumph: Coinbase's Singapore License Achievement

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