Coinbase Launches Derivatives for UK Professional Investors, Speeds ‘Everything Exchange’ Strategy

Coinbase has launched derivatives trading for professional investors in the UK, broadening its push to build a one-stop trading platform.

The Block reported on August 11 that Coinbase will gradually offer derivatives products to eligible professional investors in the UK, including perpetual futures, fixed-expiry futures and options. In a statement shared with The Block, the company said it will provide more than 170 contracts spanning crypto, commodities, equities and foreign exchange. Perpetual futures will trade 24 hours a day with leverage of up to 50 times. Fixed-expiry futures will offer leverage of up to 20 times and have set settlement dates. Options will be limited to crypto assets and include calls, puts and multi-leg strategies.

The rollout follows Coinbase’s recent acquisition of a Markets in Financial Instruments Directive, or MiFID, license in the European Union. Coinbase said the license enables it to offer derivatives contracts in the UK.

The launch is part of Coinbase’s “Everything Exchange” strategy in the UK. The company is expanding beyond crypto trading into stocks, stablecoins, savings and lending products. Last week, it also started offering trading in about 4,000 U.S. stocks to eligible users in the UK.

Coinbase’s recent second-quarter results also underscored that diversification push. The company said 88% of net revenue in the quarter came from businesses other than spot Bitcoin trading, while its share of global crypto trading volume rose to a record 10.3% from 9.1% in the first quarter.