Updated: April 18, 2024, 2:43 PM EDT
Coinbase International Exchange (CIE) and Coinbase Advanced are dogwifhat ($ WIF
+3.62%
The exchange service for non-US users will launch perpetual futures trading for Solana-based memecoin on April 25 at 9:30 UTC, CIE. said This article was posted on X on Thursday.
About a week ago, Coinbase’s international platform postponed plans to launch a Pepe-based perpetual futures product. According to X, 1000PEPE-PERP was scheduled to open at CIE on April 18. post In exchange.
CIE’s effort to launch a cryptocurrency perpetual futures product comes a year after the exchange finalized regulatory approval in some jurisdictions to offer perpetual futures to clients outside the United States.
However, obtaining approval to offer similar products within the United States has proven much more difficult. US regulators are still reluctant to approve risky cryptocurrency-based futures products. Nonetheless, Coinbase finally won approval from the National Futures Association last year to offer cryptocurrency futures trading to a limited number of U.S. retail traders using Coinbase Advanced.
Coinbase is pursuing expansion of its perpetual futures products amid strong growth in the derivatives market. According to CoinDesk, derivatives trading volume surged 86.5% last month, reaching $6.18 trillion.
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About the author
Elizabeth Napolitano is a data reporter covering business and technology news with a focus on cryptocurrency. Before she joined The Block, Elizabeth reported on BigTech, AI, crypto, and video games for CBS Moneywatch. As a CoinDesk reporter, she covered DeFi, NFTs, and US courts. She received a master’s degree in journalism from CUNY. X: Follow her at @LizKNapolitano.