Crypto exchange Coinbase has announced that as part of its global expansion strategy, perpetual futures trading contracts will be offered to individual customers outside the US.
In recent weeks, Coinbase International Exchange had received official regulatory approval from the Bermuda Monetary Authority (BMA) with the aim of offering perpetual futures trading to individual customers outside the US.
For now, the futures contracts offered by Coinbase are limited to Bitcoin (BTC), Litecoin (LTC), Ether (ETH), and XRP.
A Special Application for “Eligible” Customers
This new service will be carried out through the Coinbase Advanced Platform. Customers living outside the US and meeting certain eligibility criteria will be able to trade directly with cryptocurrencies and in perpetual futures contracts on this platform. Users will also be able to trade both in spot markets and derivatives. They will be able to use advanced types and APIs for automated trading.
Leverage options have also been set up for interested investors. According to the announcement, up to 5x leverage will be offered for Bitcoin, Ethereum, and Litecoin; and up to 3x leverage for XRP. Coinbase also added that it plans to expand these types of trading opportunities for more cryptocurrencies soon.
All these processes are taking place under the supervision of the Bermuda Monetary Authority. In addition, there are financial protections such as an insurance fund and a liquidity support program to ensure the safety of investors.
Source: The Block
