September 28, 2023
Coinbase International Exchange, one of the world’s leading cryptocurrency platforms, has achieved a significant milestone by securing regulatory approval from Bermuda’s financial authority. This approval marks a pivotal moment as Coinbase can now offer perpetual Bitcoin futures to eligible retail customers outside the United States, heralding a new era of trading opportunities in the crypto market.
Perpetual futures contracts are a distinctive type of derivative instrument known for their unique characteristic of never expiring, providing traders and investors with unparalleled flexibility in the cryptocurrency market. Coinbase intends to launch these perpetual futures contracts on its Coinbase Advanced platform in the coming weeks.
JUST IN: Coinbase approved to offer perpetual #Bitcoin futures to global retail customers pic.twitter.com/WQVMlxaFTM
— Bitcoin Magazine (@BitcoinMagazine) September 28, 2023
In a recent blog post, Coinbase expressed its gratitude to the Bermuda Monetary Authority for their collaboration in shaping the regulatory framework for cryptocurrency trading. This achievement aligns with Coinbase’s commitment to fostering cooperation between crypto firms and regulators to establish a secure and regulated environment for digital finance.
This development follows Coinbase’s international exchange initiative launched earlier this year, which saw the introduction of perpetual futures contracts for Bitcoin and Ethereum. It highlights the growing importance of collaboration between crypto companies and regulatory bodies in shaping the future of the digital finance industry.
However, in a separate move, Coinbase has reportedly restricted its services in India, targeting users who have violated its standards. New Indian sign-ups are being directed to use Coinbase Wallet, a self-custody crypto wallet, as part of the company’s efforts to maintain compliance in various regions.
