Coinbase International Exchange has obtained regulatory approval from the Bermuda Monetary Authority (BMA) to offer perpetual futures to eligible non-U.S.-based retail consumers.
Coinbase, which is recognized as the most secure and dependable crypto-based company, is now prepared to operate with utmost clarity, develop an advanced risk structure, and work in strict compliance with BMA’s ground rules. In the coming weeks, Coinbase Advanced, a comprehensive retail trading platform, will begin offering perpetual futures trading and expand its international customer base.
During the 2nd stage of their “Go Broad, Go Deep” gameplan, the company declared that they would be associating with international regulators to create a crypto regulatory structure. This will make it possible for crypto technology to facilitate innovation. As they needed to modernize their financial model, the company’s objective was to become a publicly traded company in the United States.
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However, the company has realized that it also needs to make provisions for creating better connectivity for entitled non-US customers with its perpetual futures program. For this, the company will need to advance its international financial model, bringing about greater options for users globally.
Coinbase has obtained regulatory approval in an environment where local regulators closely monitor the operations of numerous other cryptocurrency exchanges, causing many of them to withdraw from multiple jurisdictions. In the case of the international crypto offshoot arenas, they account for 75% of global crypto trading. The fact remains that there are a great number of reputable companies with a presence in the international offshoot space that offer safety features and transparency.
Where Coinbase is concerned, their perpetual futures contracts have been created following stringent guidelines on the Coinbase International Exchange. As of the second quarter’s numbers, it was responsible for notional trading volume exceeding $5.5 billion from institutional clients. The firm has tight ties to BMA.
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Coinbase differs from other crypto exchanges because it is known to have the very best safety features. For another, Coinbase International Exchange is highly capitalized through its Insurance Fund and its Liquidity Support Program. The company has an expert risk team at its disposal. There is also the factor that the company is not involved in market creation. Their liquidity comes from solidly based liquidity suppliers who are regulated. The accounts of Perpetual Futures are in the hands of Coinbase Bermuda Limited and are regulated by BMA.
