Coinbase Leads US Into Global Crypto Perpetuals Trading
Coinbase Becomes First US Exchange Allowed to Offer Global Crypto Perps Trading
Coinbase has become the first US-based crypto exchange permitted to offer global trading in crypto perpetual futures, commonly known as “perps.” The move marks a notable expansion of Coinbase’s derivatives footprint and highlights the growing role of regulated pathways for crypto derivatives access.
Perpetual futures are a type of derivatives contract that lets traders gain exposure to an underlying asset without owning it directly. Unlike traditional futures, perps do not have an expiry date, which has made them a dominant product in offshore crypto markets.
The significance of Coinbase being the first US exchange allowed to provide global perps trading is twofold. First, it reflects an effort to bring one of the most widely used crypto trading instruments into a framework with clearer permissions and oversight. Second, it underscores how major exchanges are competing to serve international demand for derivatives while navigating stricter compliance expectations.
Crypto derivatives have long been central to market activity, but access has often been concentrated outside the United States due to regulatory constraints. Coinbase’s authorization to offer global perps trading positions the company differently from domestic rivals and illustrates how regulatory posture can shape where and how exchanges are able to offer complex trading products.
