- Coinbase introduces stock perpetual futures for non-US traders
- 24/7 trading access to US equities through derivatives
- Includes major tech stocks and ETFs such as SPY and QQQ
- Leverage up to 10x (stocks) and 20x (ETFs)
- Not available to US users and subject to regional restrictions
Cryptocurrency exchange Coinbase has launched stock perpetual futures, introducing a new derivatives product that provides synthetic exposure to US-listed equities. The offering is currently available to eligible users outside the United States. The launch also aligns with Coinbase’s broader strategy of building an “Everything Exchange,” a platform designed to integrate crypto, traditional financial instruments, and emerging asset classes in a single trading environment. The company noted that a significant portion of demand for such products has previously been concentrated on decentralized platforms, and this move brings similar functionality to a regulated, centralized venue with institutional-grade risk management.
The launch marks an expansion of Coinbase’s derivatives portfolio, which has primarily focused on crypto-based instruments. The company is extending its platform to include products linked to traditional financial markets. Stock perpetual futures allow traders to speculate on the price movements of publicly listed companies without owning the underlying shares. Unlike traditional equity markets, which operate during fixed trading hours, these contracts are available for trading 24 hours a day, seven days a week. The product is designed to provide continuous access to US equity exposure, particularly for users in regions where direct participation in US stock markets may be limited.
Initial Offering Includes Major Stocks and ETFs
At launch, the product covers a selection of highly traded US technology stocks, including Apple, Microsoft, Alphabet, Amazon, NVIDIA, Meta Platforms, and Tesla. Exchange-traded fund (ETF) perpetual futures, including those tracking the S&P 500 and Nasdaq-100 indices, are also available in certain jurisdictions. Coinbase indicated that additional assets may be introduced over time, depending on market demand and regulatory considerations.
Key Product Features: The stock perpetual futures product includes several features aimed at enhancing trading flexibility and efficiency. It offers 24/7 trading, including weekends, allowing continuous access to market exposure. Traders can use leverage of up to 10x on single stocks and up to 20x on ETF perpetual futures. The contracts are settled in USDC using crypto-based infrastructure, and users can benefit from cross-margining across both perpetual futures and spot markets within the platform.
Availability and Restrictions
The stock perpetual futures product is accessible through Coinbase’s advanced trading interface for retail participants and through its international exchange for institutional users. According to the company, the product is not available to individuals in the United States and may be restricted in certain other jurisdictions due to regulatory requirements. Coinbase, the largest cryptocurrency exchange in the U.S., is reportedly in recent talks with Bybit, a major global crypto derivatives platform.
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