Coinbase International Exchange, a Class F license holder from the Bermuda Monetary Authority (BMA), Announce It has received additional regulatory approval, allowing the platform to offer permanent futures trading to non-US retail clients.
Launched in May 2023, Coinbase International has already provided cryptocurrency derivatives services to institutional clients. With the latest regulatory approval, the cryptocurrency platform will begin offering eligible customers access to regulated perpetual futures contracts on the Coinbase Advanced platform in the coming weeks. The exchange informed that perpetual futures accounts are maintained by BMA-regulated Coinbase Bermuda Limited.
The cryptocurrency exchange claimed in its announcement that approximately 75% of cryptocurrency trading volume comes from the derivatives market, and that the recent regulatory approval will help retail traders access the primarily institutional-dominated cryptocurrency derivatives market.
The cryptocurrency platform also noted that Coinbase does not participate in market making, and said that liquidity on exchanges is provided by independent, independent liquidity providers that have undergone comprehensive compliance reviews.
Coinbase claimed that its platform will prove the right gateway for retail traders to access the derivatives market in a secure and compliant manner. Only non-US consumers in a few countries can use Coinbase International Exchange, and customers are tested to evaluate their eligibility for this product before they can open a Coinbase Advanced trading account.
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Coinbase International’s recent approval to offer perpetual futures contracts to retail clients comes just one month after the platform received approval from the National Futures Association (NFA) to offer investments in cryptocurrency futures to eligible institutional clients in the United States.
Coinbase has continued to make strides outside the US despite facing a regulatory battle with the US Securities and Exchange Commission over its services. The regulator filed a lawsuit against Coinbase in early June, alleging that the exchange violated local securities laws by selling unregistered securities.
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