WEB3
by BSCN
September 28, 2023
Building on the launch of its International Exchange in May, the approval reflects Coinbase's effort to extend perpetual futures trading to eligible non-US clients.
Summary
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.
“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.
Disclaimer
Disclaimer: The views expressed in this article do not necessarily represent the views of BSCN. The information provided in this article is for educational and entertainment purposes only and should not be construed as investment advice, or advice of any kind. BSCN assumes no responsibility for any investment decisions made based on the information provided in this article. If you believe that the article should be amended, please reach out to the BSCN team by emailing [email protected].
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