Coinbase Advanced offers perpetual futures to non-US customers

At launch, traders will be able to place bids on BTC, ETH, LTC and XRP

article-image

24K-Production/Shutterstock modified by Blockworks

share

Starting today, Coinbase Advanced will be offering perpetual futures trading for customers in eligible jurisdictions outside of the United States.

Traders can use USDC to place bids on four different contracts including bitcoin, ether, litecoin and XRP. Each of these contracts will offer up to 5X leverage, with the exception of XRP, which will offer up to 3X leverage. 

For the time being, perpetual futures trading will only be available on the Coinbase Advanced webpage, but the company notes that they will soon be offering mobile trading, according to a press release viewed by Blockworks. 

This news comes less than a month after the Coinbase International Exchange received the regulatory green light from the Bermuda Monetary Authority (BMA) to offer perpetual futures for customers outside of the US.

As of March 2023, the derivatives market made up almost 75% of all cryptocurrency’s $2.95 trillion trading volume, a report from CoinGecko shows.

Read more: DYdX founder touts ‘tailor-made’ decentralized derivatives market

In fact, according to data on Laevitas, on Oct. 16, the global centralized exchange (CEX) perpetuals volume reached $151 billion with Coinbase competitor Binance capturing roughly $96.3 billion (63.7%) of it. OKX comes in second, securing an estimated 16% ($21.6 billion) of this market share.

These numbers indicate strong demand for perpetual futures products, Coinbase wrote in a blog post announcing their new offering.

“The ability to trade using margin gives traders increased capital efficiency and access to the crypto market with less upfront investment. Being able to seamlessly go long and short, traders can also use derivatives to manage risk on their underlying crypto assets,” the company said. 

Updated Oct. 18, 2023 at 9:35 am ET: A previous version of this article referred to the platform as “Coinbase Advance” instead of “Coinbase Advanced.”


Get the news in your inbox. Explore Blockworks newsletters:

Tags

Upcoming Events

Old Billingsgate

Mon - Wed, October 13 - 15, 2025

Blockworks’ Digital Asset Summit (DAS) will feature conversations between the builders, allocators, and legislators who will shape the trajectory of the digital asset ecosystem in the US and abroad.

Industry City | Brooklyn, NY

TUES - THURS, JUNE 24 - 26, 2025

Permissionless IV serves as the definitive gathering for crypto’s technical founders, developers, and builders to come together and create the future.If you’re ready to shape the future of crypto, Permissionless IV is where it happens.

Brooklyn, NY

SUN - MON, JUN. 22 - 23, 2025

Blockworks and Cracked Labs are teaming up for the third installment of the Permissionless Hackathon, happening June 22–23, 2025 in Brooklyn, NY. This is a 36-hour IRL builder sprint where developers, designers, and creatives ship real projects solving real problems across […]

recent research

Research Report Templates.png

Research

The convergence of DePIN and energy generation aims to address modern grid challenges by incentivizing distributed generation.

article-image

However, they noted there’s now an increased risk that unemployment and inflation will rise in the coming months. 

article-image

The network’s most ambitious upgrade since the Merge brings validator streamlining, smart account UX and doubled blobspace to Ethereum

article-image

Debate over extra Bitcoin use cases has returned, two years on from Ordinals

article-image

Altcoin season may be on a permanent pause as the market matures and paths grow more selective

article-image

Today’s blockchains are more like nervous systems without a brain — wiring without will

article-image

A number of blockchains make use of the Solana Virtual Machine