Coinbase has launched stock perpetual futures for eligible non-U.S. traders, expanding beyond crypto derivatives and signaling a bid to operate as a 24/7 marketplace across asset classes.
Stock perpetuals debut for non-U.S. users
The new products offer round-the-clock exposure to select equities via perpetual futures contracts, which do not have an expiration date. Access is limited to traders outside the United States in jurisdictions where such derivatives are permitted and where Coinbase is authorized to offer them.
The launch extends Coinbase’s derivatives lineup and aligns with its broader ambition to evolve into a 24/7 “everything exchange” spanning crypto, equities and prediction markets.
How stock perpetual futures work
Perpetual futures are derivatives that track the price of an underlying asset without a set expiry. Positions are maintained through a funding-rate mechanism designed to keep contract prices near spot levels. These markets typically support higher leverage and continuous trading, offering exposure without direct ownership of the underlying shares.
Regulatory and market context
Equity-linked derivatives remain tightly regulated in the United States, where access for retail traders is constrained by securities and commodities rules. By offering stock perpetuals to non-U.S. customers, Coinbase is competing more directly with offshore venues that list synthetic equity products and other round-the-clock instruments.
Why it matters
Bringing stock-linked perpetuals under the Coinbase umbrella broadens the exchange’s addressable market and reflects growing demand for 24/7 trading outside of traditional market hours. It also underscores the convergence between digital asset platforms and conventional financial markets as exchanges race to list more products on global, always-on rails.