- Coinbase International expands perpetual futures services to non-US clients.
- Bermuda Monetary Authority authorizes Coinbase’s service expansion to non-US clients.
- Coinbase’s service expansion is supported by an insurance fund.
Coinbase International has broadened its perpetual futures services to clients beyond the United States. This development follows the platform’s notional volume surpassing $5.5 billion in the second quarter, with the lion’s share originating from institutional traders.
According to a recent announcement, the Bermuda Monetary Authority (BMA) has recently authorized Coinbase International Exchange to extend its services to non-US retail clients who fulfill specific requirements.
Coinbase initially launched perpetual futures trading in May, exclusively for non-U.S. institutional entities. However, as of September 28th, Coinbase Advanced will extend this service to non-U.S. retail traders, pending eligibility verification for perpetual futures trading. The commencement of trading is anticipated in the subsequent weeks.
Diversifying Income Streams
Coinbase proactively collaborates with local regulators to ensure adherence to local laws and stipulations. This commitment is notable, especially when other cryptocurrency exchanges withdraw from various regions due to heightened oversight from local regulatory bodies.
The Coinbase International Exchange delivers the service, supported by an insurance fund and a liquidity assistance program, financed in USDC.
The platform exclusively collaborates with independent liquidity providers that comply with regulatory standards to ensure liquidity. This approach is crucial as it signifies Coinbase’s initiative to lessen its reliance on income from spot trading. This factor has previously influenced the stock’s performance following disappointing quarterly outcomes.
According to the information supplied by the exchange, a substantial part (75%) of global cryptocurrency trading activity is accounted for by perpetual futures trading.
