Coinbase Gets Approval to Allow Retail Perpetual Futures Trading

One of the largest cryptocurrency exchanges, Coinbase, announced on September 28 that it has obtained approval to offer services related to perpetual futures trading to retail clients outside the US.

Coinbase International Exchange has received additional regulatory approval from the Bermuda Monetary Authority (BMA) to extend perpetual futures trading to retail customers outside the US. The company already had the BMA class F license which allows non-US institutions to trade perpetual futures.

According to the release, in the coming weeks, the exchange will begin offering eligible customers access to perpetual regulated futures contracts on Coinbase Advanced.

“Starting today, retail traders outside the US will be able to check their eligibility for perpetual futures on Coinbase Advanced, with trading officially beginning in the coming weeks.”

The company highlighted strategic moves within its planning to expand the company globally. “As announced in Phase II of our “Go Broad, Go Deep” strategy, we are committed to partnering with high-level global regulators to build a crypto regulatory framework that enables crypto technology to continually drive innovation.”

Coinbase stated that it chose to build its business and become a public company in the US, believing that the US “should be at the forefront of efforts to upgrade our financial system. However, by expanding greater access to perpetual futures to eligible customers outside the US, we are excited to continue our mission to help upgrade the global financial system and provide more economic freedom and opportunities for users around the world,” he added.

It is worth remembering that Coinbase announced, on September 22, the achievement of Anti-Money Laundering (AML) registration with the Bank of Spain. The action boosts the company’s plans for its global expansion.

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