Coinbase Introduces Perpetual Futures For Retail Users Outside the US
The exchange now offers Bitcoin, Ether, XRP, and Litecoin derivatives.
Share this article
Starting today, Coinbase Advanced customers outside of the US and UK will have access to perpetual futures contracts on Bitcoin, Ethereum, Litecoin, and XRP. The futures contracts will be settled in USDC, a stablecoin pegged to the US dollar.
As perpetual futures don’t expire, traders can use them to make leveraged bets on the changing prices of digital currencies over an unlimited timeframe.
Perpetual futures have arrived: Coinbase Advanced customers in eligible non-US geos can now trade BTC, ETH, LTC, and XRP perpetual contracts.
— Coinbase 🛡️📞 (@coinbase) October 18, 2023
With this launch, Coinbase aims to provide its global retail customers access to derivatives trading through its Coinbase Advanced platform, which offers both spot and futures trading.
“Customers can now access both our highly liquid spot markets and derivatives in one integrated, secure, and easy-to-use interface,” wrote Coinbase.
The futures contracts will initially offer up to 5x leverage, except for XRP which will offer up to 3x. Coinbase has announced an introductory fee rate of 0% (maker) and 0.03% (taker).
Coinbase highlighted its focus on security and compliance for its retail derivatives offering. The company stated that customer assets are held 1:1, and its futures exchange is capitalized through an insurance fund and liquidity support program in USDC rather than an exchange token.
Coinbase said it will continue expanding Coinbase Advanced to serve advanced retail traders globally with additional features like advanced order types, TradingView charts, and trading APIs.