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

Javits Center North | 445 11th Ave

Tues - Thurs, March 24 - 26, 2026

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.

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

Unlocked by Template.png

Research

Institutional staking providers specialize in offering secure, compliant, and scalable solutions for organizations, asset managers, and individuals who wish to stake large volumes of digital assets. Staking-as-a-Service Providers (SaaSPs) act as intermediaries, running blockchain nodes and managing the technical complexities of staking on behalf of clients, often providing custody, reporting, and yield optimization features across a broad range of assets and networks.

article-image

Hashdex CIO says firm’s crypto index fund could one day hold 200 assets

article-image

The deal seeks to boost CoinShares’ US expansion and integrates Bastion’s quantitative strategies into its digital asset platform

by Blockworks /
article-image

The defense argues DOJ is criminalizing open-source code and violating First Amendment protections in landmark crypto case

by Blockworks /
article-image

One issuer reported “high conviction” Solana ETFs would be approved in the first half of October

article-image

Should Congress not pass a budget, the SEC will be operating with a skeleton staff starting Wednesday

article-image

Stablecoin, DePIN and robo-advisor teams made the finals