Eligible Coinbase retail customers outside the US can now trade perpetuals

Quick Take

  • Coinbase has opened up perpetuals trading for eligible non-U.S. retail customers via the Advanced platform.
  • The exchange has rolled out four perpetuals contracts: Bitcoin (BTC), Litecoin (LTC), Ether (ETH), and XRP, all of which are settled in USDC stablecoin.

Crypto exchange Coinbase has rolled out perpetuals trading for eligible non-U.S. retail customers via the Coinbase Advanced platform — aiming to cater to the derivatives market.

Perpetuals, also known as “perps,” are a type of futures that lack an expiration date and are a popular instrument among crypto derivatives traders.

The perpetuals trading offered by Coinbase starting today includes four contracts — Bitcoin ( BTC + ), Litecoin ( LTC + ), Ether ( ETH + ), and XRP + — all of which are settled in the USDC stablecoin.

The service is available only to retail customers outside the United States who meet the eligibility criteria through standard assessment checks, according to a statement. The derivatives contracts offered on Advanced allow eligible non-U.S. retail customers to tap into perpetual futures contracts offered by Coinbase International Exchange.

The Advanced users will be able to trade both spot markets and derivatives in one interface. They will also be able to use advanced order types and APIs for automated trading.


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Leverage limits for various contracts

The Advanced platform offers a maximum leverage of up to 5x for BTC, ETH, and LTC contracts, while XRP contracts will have a leverage of up to 3x. Coinbase plans to introduce contracts for other cryptocurrencies in the coming months.

Regulatory oversight for these perpetual futures accounts is provided by the Bermuda Monetary Authority. Financial safeguards are in place through an insurance fund and a liquidity support program, both denominated in USDC stablecoin.

Earlier this year, Coinbase launched its international division with approval from the BMA to offer non-U.S. institutional clients perpetual futures trading. 

© 2023 The Block. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

About Author

Vishal Chawla is The Block’s crypto ecosystems editor and has spent over six years covering tech protocols, cybersecurity, artificial intelligence and cloud computing. Vishal likes to delve deep into blockchain intricacies to ensure readers are well-informed about the continuously evolving crypto landscape. He is also a staunch advocate for rigorous security practices in the space. Before joining The Block, Vishal held positions at IDG ComputerWorld, CIO, and Crypto Briefing. He can be reached on Twitter at @vishal4c and via email at [email protected]