The Crypto Roundup: 19 October 2023 | CryptoCompare.com

Nasdaq-listed cryptocurrency exchange Coinbase has expanded its trading services to include perpetual futures for eligible customers in specific non-U.S. jurisdictions. The new feature is a part of Coinbase Advanced, the company’s trading platform targeted at experienced retail traders.

The move comes as the cryptocurrency derivatives market, according to Coinbase, has grown to comprise 75% of the total cryptocurrency trading volume worldwide.

The exchange said that Coinbase Advanced will initially offer four types of perpetual contracts: XRP, BTC, ETH, and LTC. The leverage for these contracts differs, with up to 5X for BTC, ETH, and LTC, and up to 3X for XRP, with contracts being settled in USDC.

Coinbase has indicated it plans on adding more contracts in the near future, and temporarily its fee rate is lowered to 0% for makers and 0.03% for takers. The contracts are, for now, accessible via the firm’s web platforms, with mobile trading options being in development.

The exchange says its new perpetual futures contracts comply with strict standards, giving traders more confidence. These contracts are available through Coinbase International Exchange and are regulated by the Bermuda Monetary Authority.

• SEO Powered Content & PR Distribution. Get Amplified Today.
• PlatoData.Network Vertical Generative Ai. Empower Yourself. Access Here.
• PlatoAiStream. Web3 Intelligence. Knowledge Amplified. Access Here.
• PlatoESG. Carbon, CleanTech, Energy, Environment, Solar, Waste Management. Access Here.
• PlatoHealth. Biotech and Clinical Trials Intelligence. Access Here.
• Source: https://www.cryptocompare.com/email-updates/daily/2023/oct/19/