Coinbase Advanced clients in non-US jurisdictions got the ability to trade perpetual futures for Bitcoin, ETH, LTC and XRP paired with USDC.
Contracts initially offer up to 5x leverage (up to 3x for XRP). In the coming months, representatives of the trading platform promised to add more available assets.
For the first time, traders will be provided with a reduced commission: 0% for makers and 0.03% for takers.
According to the US firm, about 75% of crypto asset trading comes from derivatives markets.
Coinbase Advanced is a service for professional traders. The platform offers an expanded set of tools, including detailed order types, TradingView charts and API for trade automation.
The company assured that its perpetual futures market is well capitalized thanks to an insurance fund and a USDC liquidity support program.
Qualifying accounts are maintained by Coinbase International Exchange under the jurisdiction of the Bermuda Monetary Authority. In April, the exchange received approval to operate from the regulator.
The company did not specify the specific countries in which the new products appeared, but the UK was not included in this list. You can check access to futures from Coinbase in your region at website using an email linked to your account on the exchange.
In August, Coinbase announced it was expanding into Canada through a partnership with local financial services company Peoples Trust Company.
In April, the founder and CEO of the exchange, Brian Armstrong, announced his readiness to leave the US market due to regulatory uncertainty.
Source: Cryptocurrency
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