- Coinbase gains approval to connect U.S. traders with global crypto futures liquidity.
- Deribit acquisition enables Coinbase to expand access to regulated derivatives in the U.S.
- Armstrong said the approval could bring offshore crypto trading activity back onshore.
Coinbase has received regulatory approval to provide U.S. traders with access to global crypto-perpetual futures, marking a move in the company’s efforts to expand beyond spot cryptocurrency trading.
The approval allows Coinbase to connect eligible U.S. users to international derivatives markets through infrastructure tied to Deribit, the crypto derivatives exchange it acquired for $2.9 billion. The move comes as regulators continue to assess how digital asset derivatives can operate within existing U.S. market rules while offering domestic traders access to products that have largely been available through offshore venues.
Coinbase Connects U.S. Traders to Global Markets
Coinbase Chief Executive Officer Brian Armstrong reported that the approval followed years of discussions with policymakers and regulators. In a statement shared on X, Armstrong noted that perpetual futures trading had largely migrated offshore because U.S. traders lacked access to the products under domestic regulations.
Perpetual futures differ from traditional futures contracts because they do not expire. Instead, they use funding mechanisms designed to keep contract prices aligned with the underlying asset. The products have become one of the largest areas of the global crypto derivatives market.
According to Armstrong, the new framework will allow U.S. users to participate in the same liquidity pools as international traders through regulated channels. He said the change could reduce market divisions that developed as offshore exchanges captured much of the global perpetual futures activity.
Deribit Acquisition Plays Central Role
The approval is tied to Coinbase’s acquisition of Deribit, one of the largest crypto derivatives platforms. Coinbase announced the $2.9 billion transaction last year to strengthen its presence in the derivatives sector and broaden its trading offerings beyond spot markets.
Broader Expansion Beyond Spot Trading
The perpetual futures approval adds to a list of recent initiatives introduced by Coinbase as it expands its product lineup. The company has focused on derivatives and other financial services as part of its broader business strategy.
Armstrong also thanked Commodity Futures Trading Commission Chair Michael Selig and Securities and Exchange Commission Chair Paul Atkins for supporting regulatory changes that enabled the launch. He said Coinbase plans to continue working with regulators as it expands access to crypto trading products within the United States.
Related: Coinbase Derivatives Lists Nano-Sized XRP and Solana Perpetual Futures
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