In a significant move towards expanding its global offerings, leading cryptocurrency exchange Coinbase announced on Thursday that its international arm, Coinbase International Exchange, has received regulatory approval from the Bermuda Monetary Authority (BMA) to introduce perpetual futures contracts for qualified non-U.S. retail customers.
According to the official blog post, Coinbase is gearing up to launch these regulated perpetual futures contracts on its Coinbase Advanced platform within the next few weeks. This strategic move is in line with the company’s “Go Broad, Go Deep” approach, which places a strong emphasis on collaboration with regulatory bodies across the globe.
In a statement, Coinbase emphasized their commitment to working closely with high-standard global regulators, aiming to construct a robust regulatory framework that fosters ongoing innovation within the crypto space. The post highlighted their ambition to not only influence the regulatory landscape within the United States but also to play a pivotal role in shaping global crypto-related policies.
Coinbase’s broader mission, as outlined in their announcement, is to contribute to the evolution of legal frameworks, not only domestically but on an international scale. By extending access to perpetual futures contracts to eligible non-U.S. clientele, the exchange aims to advance their mission of modernizing the global financial system. In doing so, Coinbase seeks to facilitate greater economic freedom and opportunities for users around the world.
This development marks a significant milestone for Coinbase, solidifying its position as a key player in the global cryptocurrency landscape. As the company continues to forge partnerships with regulatory authorities worldwide, it remains poised to play an instrumental role in the ongoing evolution of the digital asset ecosystem.