Coinbase says perpetual futures contracts accounted for almost three quarters of global crypto trading volume in 2022. The post Coinbase Launches Perpetual Derivates Exchange in Bermuda appeared first on Tokenist.
Coinbase to Offer Trading of Perpetual Futures on the New Exchange
Coinbase Global announced on Tuesday the launch of its crypto derivatives exchange in Bermuda after securing a regulatory license to offer services in the self-governing British overseas territory. The exchange, Coinbase International Exchange, will initially allow institutional investors “based in eligible jurisdictions outside of the US, to trade perpetual futures,” the company said in the press release.
“Perpetual futures accounted for nearly 75% of global crypto trading volume in 2022, creating highly-liquid markets and offering traders additional versatility in their trading strategies.”
– Coinbase said in the announcement on Tuesday.
Perpetual futures refer to a type of crypto derivative contract that enables investors to bet on the future price of cryptocurrencies. They are called perpetual because they have no expiry date and can be held indefinitely. In addition, perpetual futures utilize a funding mechanism to ensure that the contract price tracks the underlying asset’s price.
The crypto exchange will initially offer bitcoin and ether perpetual futures, and all transactions will be settled in USD Coin (USDC). Coinbase’s former group product manager, Emmanuel Goh, will lead the newly launched derivatives exchange.
The Persisting Dispute Between Coinbase and the SEC
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