Coinbase announced the launch of its perpetual futures service, allowing Coinbase Advanced customers in eligible non-US jurisdictions to trade $BTC, $ETH, $LTC, and $XRP perpetual contracts from Coinbase International Exchange.
Coinbase's perpetual futures are powered by Coinbase Bermuda Limited (dba Coinbase International Exchange) which is regulated by the Bermuda Monetary Authority (BMA). The contracts initially offer up to 5X leverage ($XRP offers up to 3X leverage) and are settled in $USDC. Coinbase said it will add more contracts in the coming months.
In the first half of this year, Coinbase launched Coinbase International Exchange, an offshore derivatives exchange, to offer perpetual futures to non-US institutional customers.
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