Coinbase’s international exchange opens futures to retail

Non-US retail traders can check if they’re eligible for perpetual futures trading on Coinbase Advanced from Sept. 28, with trading to begin soon

article-image

rafapress/Shutterstock modified by Blockworks

share

Coinbase is expanding its perpetual futures service to non-US retail users after seeing substantial institutional trading of over $5.5 billion in notional volume during the second quarter.

A Bermuda regulator granted Coinbase International Exchange the authority to offer perpetual futures to eligible non-US retail clients, according to an announcement on Thursday.

Coinbase initially launched perpetual futures trading in May, but it was limited to only institutional investors located outside the US. 

Starting Sept. 28, non-US retail traders can verify their eligibility for perpetual futures trading on Coinbase Advanced, with actual trading set to commence in the following weeks, the announcement said.

“At a time when other crypto exchanges are backing away from various regions due to increased scrutiny from local regulators, this regulatory approval highlights Coinbase’s commitment to working with local regulators to ensure its retail and institutional offerings are compliant with local frameworks and standards,” Coinbase said in an email.

The Coinbase International Exchange, which provides the service, maintains financial backing through its Insurance Fund and Liquidity Support Program, both funded in USDC, rather than relying on an exchange token, the company said.

Liquidity for the platform is sourced from compliant, independent liquidity providers, it added.

Coinbase is looking to reduce its dependency on spot trading revenues, which, in the past, have negatively impacted its stock performance following disappointing quarterly earnings.

Notably, perpetual futures trading makes up a substantial portion, up to 75%, of the overall global cryptocurrency trading volume, according to the exchange.

The firm is also seeking to spread risks related to regulatory uncertainties. 

This strategic shift underscores Coinbase’s efforts to evolving within the changing crypto market dynamic and achieving a balanced revenue mix.

Coinbase joins a handful of other centralized exchanges to offer such contracts including the likes of Deribit, Binance, Bitfinex, among others, as well as a growing number of DeFi derivatives options, such as dYdX and Aevo.


Get the news in your inbox. Explore Blockworks newsletters:

Tags

Decoding crypto and the markets. Daily, with Byron Gilliam.

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.

recent research

Research Report Templates.png

Research

Pipe Network is a decentralized content delivery network (dCDN) that replaces the sparse, capital intensive data center footprint of traditional CDNs with a permissionless mesh of independent node operators. By orchestrating under-utilized resources that already exist at the edge, rather than purchasing or leasing thousands of servers, Pipe slashes capital intensity while letting supply expand autonomously in the places where bandwidth is scarcest and most expensive.

article-image

ETH’s “breakout marks a significant structural shift and clears the path towards…$4,000,” Kraken’s OTC desk noted

article-image

Fiscal dominance isn’t about interest rates and it isn’t about Trump, either

article-image

Firestarter Storage brings decentralized storage and delivery to Solana

article-image

After lengthy closing arguments on Wednesday, the case is now in the hands of 12 jurors

article-image

Analysts cite weak trading volume and regulatory progress as factors

article-image

Builders weigh in on Ethereum’s first decade and the decisions that will define its next one