Crypto Moves Closer to Traditional Finance… Coinbase to Launch Perpetual Futures on U.S. Stocks

Coinbase, the largest cryptocurrency exchange in the United States, is set to launch perpetual futures products referencing U.S. stocks as the underlying assets.

On the 20th (Korea time), Coinbase said it will support trading in perpetual futures on U.S. stocks for users outside the United States through its global exchange. The products will be available for trading 24 hours a day, and investors will be able to gain exposure to price movements without owning the underlying shares.

The newly introduced lineup includes major U.S. equities such as Apple, Microsoft, Amazon, Nvidia and Tesla. Perpetual futures on the S&P 500 exchange-traded fund (ETF) and the Nasdaq 100 ETF are also slated for launch.

Stock perpetual futures are derivatives with no expiration date. Investors can take long (bullish) or short (bearish) positions using leverage of up to 10x for single-name stocks and up to 20x for ETFs. Investors can post margin using USDC, a stablecoin pegged to fiat currency.

Coinbase is not alone. Global crypto exchanges have recently been rolling out perpetual futures tied to traditional financial assets such as individual stocks and ETFs. Previously, Binance, Kraken, Bybit and Hyperliquid (HYPE) have launched perpetual futures products tracking the Korean and U.S. stock markets.