Coinbase Launches International Exchange with Bitcoin and Ethereum Perpetual Futures

·

The world’s largest U.S.-based cryptocurrency exchange, Coinbase, has officially unveiled the Coinbase International Exchange, marking a pivotal step in its global expansion strategy. Backed by regulatory approval from the Bermuda Monetary Authority (BMA), this new platform is designed to serve institutional clients outside the United States with access to advanced crypto derivatives—starting with Bitcoin and Ethereum perpetual futures.

This launch reflects Coinbase’s long-term vision to scale globally, a plan first introduced in May 2022. As Emmanuel Goh, Head of Coinbase International Exchange, explained in a statement to Decrypt, “The Coinbase International Exchange is another step on our plans to scale globally—going broad and deep, lighting up the map.”

👉 Discover how global crypto trading is evolving with regulated perpetual futures.

What Are Perpetual Futures?

Unlike traditional futures contracts, which require settlement on a predetermined date, perpetual futures have no expiration. This allows traders to maintain long or short positions indefinitely, provided they meet ongoing margin requirements. These instruments have gained immense popularity among professional traders due to their flexibility and leverage options—making them ideal for sophisticated market strategies.

The new exchange will settle all trades in USD Coin (USDC), a regulated stablecoin issued by Circle and widely recognized for its transparency and reliability. By using USDC, Coinbase ensures pricing stability and seamless cross-border transactions for its international institutional clients.

A Strategic Move Amid Regulatory Challenges

While Coinbase reaffirms its commitment to the U.S. market, the launch of an international arm underscores growing frustration with the domestic regulatory environment. The company has been locked in a public dispute with the U.S. Securities and Exchange Commission (SEC) since mid-2022, when the agency charged a former product manager and his brother with insider trading—and later implied that several tokens listed on Coinbase might be unregistered securities.

In April 2023, Coinbase took legal action by petitioning a federal court to compel the SEC to clarify crypto regulations. More recently, CEO Brian Armstrong amplified the call for reform by launching a “Stand with Crypto” NFT campaign via the Zora marketplace, rallying community support for clear, innovation-friendly rules.

“We would like to see the U.S. take a similar approach instead of regulation by enforcement, which has led to a disappointing trend for crypto development in the U.S.,” Coinbase stated.

This sentiment highlights a broader industry concern: while nations like Bermuda, Singapore, and Switzerland are advancing progressive crypto frameworks, the U.S. continues to rely heavily on enforcement actions rather than proactive legislation.

Focused Expansion in High-Compliance Jurisdictions

Coinbase emphasized that its international growth will prioritize jurisdictions with strong regulatory standards—what it refers to as “high-bar” markets. The choice of Bermuda as the initial regulatory base is no accident; the island nation has established itself as a forward-thinking hub for digital asset innovation, complete with clear licensing requirements and investor protections.

Security and risk management are central to the new exchange’s design. Key features include:

These measures ensure that institutional investors can operate with confidence in a secure, transparent environment.

👉 Explore secure and compliant platforms offering perpetual futures trading today.

Access Limited to Institutional Clients—For Now

At launch, only eligible institutional clients in approved non-U.S. regions will be able to access the Coinbase International Exchange. Retail traders are excluded from initial participation, underscoring the platform’s focus on professional market participants who require advanced tools and enterprise-grade infrastructure.

However, institutions won’t just log into a web interface—they’ll also have direct access via API integration, enabling automated trading strategies, real-time data feeds, and seamless portfolio management across systems.

As more countries establish clear crypto regulations and position themselves as digital asset hubs, Coinbase sees an opportune moment to expand. “As more and more markets are moving forward with regulatory frameworks to become crypto hubs, we believe the moment is right to launch this international exchange,” the company said.

Core Keywords Driving Visibility

To align with search intent and improve discoverability, this article integrates the following core keywords naturally throughout:

These terms reflect high-volume queries from users seeking information on advanced trading products, compliance-focused platforms, and institutional access to digital assets.

👉 Learn how regulated exchanges are shaping the future of crypto derivatives trading.

Frequently Asked Questions (FAQ)

What is the Coinbase International Exchange?

The Coinbase International Exchange is a new platform launched by Coinbase to offer regulated crypto derivatives—starting with Bitcoin and Ethereum perpetual futures—to institutional clients outside the United States. It operates under the oversight of the Bermuda Monetary Authority.

Who can trade on the international exchange?

Currently, only institutional clients in eligible non-U.S. jurisdictions can access the platform. Retail users do not have access at this time.

How are trades settled on the new exchange?

All trades on the Coinbase International Exchange are settled in USD Coin (USDC), a fully reserved, transparent stablecoin backed 1:1 with U.S. dollars and other short-term assets.

Why did Coinbase choose Bermuda for its international launch?

Bermuda offers a clear, forward-looking regulatory framework for digital assets through the Bermuda Monetary Authority. Its balanced approach supports innovation while ensuring investor protection and compliance—making it an ideal jurisdiction for launching a regulated global exchange.

Are perpetual futures risky for traders?

Perpetual futures allow leveraged positions without expiration dates but come with risks such as liquidation during high volatility. The exchange mitigates these through dynamic margin requirements and real-time risk monitoring systems.

Will retail users ever get access?

While there are no immediate plans to open the platform to retail traders, Coinbase may consider broader access in the future depending on regulatory developments and market demand.

With this strategic launch, Coinbase reinforces its role as a leader in bridging traditional finance with digital asset innovation—offering institutions a trusted gateway to global crypto markets. As regulatory clarity spreads worldwide, platforms like this could set the standard for secure, scalable, and compliant crypto trading ecosystems.