Coinbase Gains Regulatory Nod from BMA for Retail Perpetual Futures Trading

Summary

• Coinbase has obtained regulatory approval from the Bermuda Monetary Authority (BMA) to offer perpetual futures for eligible non-US retail customers.
• The approval builds on Coinbase's earlier announcement in May 2023 when it launched Coinbase International Exchange, a platform aimed at non-US institutions to trade perpetual futures.

Crypto exchange, Coinbase, in an announcement said it has obtained regulatory approval from the Bermuda Monetary Authority (BMA) to offer perpetual futures for eligible non-US retail customers.  Aligning with the BMA's rigorous guidelines, the move underscores Coinbase's dedication to compliance and regulatory standards.

This approval builds on Coinbase's earlier announcement in May 2023 when it launched Coinbase International Exchange, a platform aimed at non-US institutions to trade perpetual futures. Now, the BMA's approval extends this trading option to non-US retail customers.

As of today, non-US retail traders can verify their eligibility for perpetual futures trading on Coinbase Advanced, the company's retail trading platform, with official trading operations set to commence in the coming weeks. 

Coinbase’s “Go Broad, Go Deep” Expansion Strategy

“As announced in the Phase II of our “Go Broad, Go Deep” strategy, we are dedicated to partnering with high-bar global regulators to build a crypto regulatory framework that allows crypto technology to continually drive innovation,” Coinbase said. 

While the company initially planted its roots in the United States, it now seeks to expand access to perpetual futures for eligible non-US clients, thus contributing to the evolution of the global financial system and extending economic freedom and opportunities to users worldwide.

In a climate where several crypto exchanges are facing increased regulatory scrutiny and scaling back operations in certain regions, Coinbase's expansion into perpetual futures demonstrates its determination to cater to growing demand in the crypto derivatives market while upholding security and transparency standards.