Coinbase Launches Regulator-Approved Crypto Derivatives Trading in Canada

Coinbase has launched a regulator-approved crypto derivatives trading service in Canada.

Cointelegraph reported on September 2 that the exchange rolled out perpetual and fixed-maturity futures tied to major cryptocurrencies including Bitcoin, Ether and Solana for Canadian users.

The service is being offered through Coinbase Financial Markets, a futures brokerage registered with the US Commodity Futures Trading Commission. Coinbase is operating in Canada under exemptions for foreign dealers and futures commission merchants.

The lineup includes 23 crypto perpetual and fixed-maturity futures contracts, five commodity futures products and the Coinbase 50 Index. Coinbase said it is the first crypto-focused platform to offer crypto futures directly in Canada.

Eligibility is limited to investors with at least $5 million in net financial assets or to registered investment advisers and dealers. Contracts are offered in nano-sized units for smaller trades and support leverage of up to 10x.

Coinbase's expansion in Canada comes as US platforms broaden their presence in the market. Webull, the US online brokerage, began crypto trading for Canadian users on September 2 using Coinbase infrastructure, after announcing the move two days earlier. Robinhood acquired Canadian crypto firm WonderFi for $180 million in June, gaining the Bitbuy and Coinsquare exchanges.

At the same time, the Canadian government is moving to tighten oversight of parts of the crypto market. Ottawa proposed a ban on crypto ATM operations in April, citing concerns about fraud and money laundering. Lawmakers are also discussing a bill that would prohibit political donations made with cryptocurrencies.