Coinbase, America’s largest crypto exchange, has rolled out perpetual futures trading for non-U.S. customers on its Coinbase Advanced platform, with initial support for four assets, including XRP.
The exchange announced the development in an official press release today, disclosing that the offering is only available to select jurisdictions outside the United States. Coinbase failed to provide a list of the select jurisdictions but provided an avenue for customers to check if their region is eligible.
The development comes two months after Coinbase received regulatory clearance from the National Futures Association to offer Bitcoin (BTC) and Ethereum (ETH) futures contracts to customers in the U.S. The latest move aims to expand this to select non-U.S. jurisdictions.
According to the firm, its decision to only roll out the offering to select jurisdictions borders on compliance issues. Recall that as part of its efforts at compliance, Coinbase delisted XRP shortly after the SEC filed a lawsuit against Ripple. The exchange relisted XRP in July upon Ripple’s partial victory in the case.
Coinbase’s addition of perpetual futures trading offers its Advanced customers outside the U.S. expanded investment possibilities, allowing them to utilize enhanced trading strategies and potential gains. The offering went live today, embedded in Coinbase’s newly launched International Exchange platform.
According to the announcement, the futures offering will initially support four crypto assets: XRP, BTC, ETH, and Litecoin (LTC). Coinbase noted that they would settle all contracts in USDC. The inclusion of XRP is not surprising, as the asset has always attained regulatory clarity outside the U.S.
The exchange further disclosed that traders can gain exposure to up to 5x leverage in BTC, ETH, and LTC. However, with XRP, maximum leverage is 3x. Coinbase revealed plans to add support for more assets in the next few months.
Coinbase’s Advanced Platform and International Exchange
Notably, perpetual futures trading is only available on the web version of Coinbase’s Advanced platform. The company noted that plans are underway to extend futures trading to the mobile application of its International exchange.
Recall that the American company launched its Coinbase International Exchange in May, with initial support for Bitcoin (BTC) and Ethereum (ETH). The platform, which caters to Coinbase’s global clientele, began with introducing BTC and ETH futures for institutional clients.
The recent announcement, however, expands this offering to retail customers on the exchange’s Advanced platform and includes support for XRP. Coinbase Advanced features with more sophisticated tools to cater to advanced traders.
Disclaimer: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic’s opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
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