Coinbase Secures Approval From The Bermuda Monetary Authority

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Coinbase International Exchange has achieved a significant milestone, announcing it had received regulatory approval from the Bermuda Monetary Authority (BMA), Bermuda’s financial regulator.

The approval allows Coinbase to enable perpetual futures for eligible non-US retail customers, allowing them to participate in perpetual futures trading.

A Significant Milestone

Coinbase announced the launch of the Coinbase International Exchange in May 2023. The new non-US exchange accompanied a class F license from the Bermuda Monetary Authority (BMA) to allow non-US institutions to trade perpetual futures. Now, Coinbase International has announced that it has received additional regulatory approval from the Bermuda Monetary Authority to extend perpetual futures trading to non-US retail clients. Over the next few weeks, the exchange will begin offering eligible customers access to regulated perpetual futures contracts. It also urged users to check their eligibility.

The blog post announcing the news also acknowledged the pivotal role played by the Bermuda Monetary Authority in facilitating the regulatory approval. Perpetual futures are a type of derivative market that have a unique characteristic of never expiring, hence perpetual. Their perpetual nature makes them an extremely attractive instrument for traders and investors looking to invest in the crypto market without being tied down with fixed maturity dates.

Expanding Access To Global Derivatives Market

Coinbase International stated that it is dedicated to partnering with high-bar global regulators and creating a crypto-regulatory framework that enables crypto technology to drive innovation.

“As announced in the Phase II of our “Go Broad, Go Deep” strategy, we are dedicated to partnering with high-bar global regulators to build a crypto regulatory framework that allows crypto technology to continually drive innovation.”

Coinbase stated that the company chose to build its business and become a public company in the US because it believed the US must be at the forefront of upgrading the financial system. However, the company added that it was excited to further its mission by offering access to perpetual futures to eligible non-US cust

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Author: Amara Khatri

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