Crypto exchange Coinbase announced this Thursday that its global arm, Coinbase International Exchange, secured approval from the Bermuda Monetary Authority (BMA) to offer perpetual futures to qualified non-U.S. retail customers.
According to the blog post,plans to launch its regulated perpetual futures contracts on its Coinbase Advanced platform “in the coming weeks.”
This announcement aligns with the firm’s “Go Broad, Go Deep” strategy, which notably emphasizes collaboration with regulatory authorities worldwide.
“We are dedicated to partnering with high-bar global regulators to build a crypto regulatory framework that allows crypto technology to continually drive innovation,” explained in the post.
Coinbase on front lines of regulations
The exchange’s ambition, as stated on its blog, is to help shape the legal framework, not only in the United States but globally.
“In expanding greater access to perpetual futures to eligible non-U.S. customers, we are excited to further our mission to help update the global financial system and provide more economic freedom and opportunity for users around the world,” Coinbase wrote.
Moreover, in a climate where many crypto exchanges face regulatory challenges, the exchange aims to stand out as a trusted and secure choice.
“Our perpetual futures contracts have been built within rigorous compliance standards on Coinbase International Exchange and have already seen over $5.5 billion in notional trading volume from institutions as of Q2,” the post read. “Coinbase International Exchange follows the robust regulatory framework established by the BMA, maintaining high standards of risk management, compliance, and user protections.”
From today onwards, non-US retail traders can verify their eligibility for perpetual futures on Coinbase Advanced.
When contacted by Decrypt, Coinbase declined to add any comments to the content of the post.