Blockchain.com has launched perpetual futures trading within its non-custodial DeFi wallet, a significant step that allows users to open leveraged positions using self-custodied Bitcoin (BTC) as collateral without transferring funds to an exchange. The feature, announced on Tuesday, is routed through the decentralized derivatives exchange Hyperliquid, providing access to over 190 crypto markets with leverage of up to 40x.
The key innovation is the preservation of self-custody. Trades are executed while assets remain in the user's wallet, enabling them to open, manage, and close positions without relinquishing control of their private keys or relying on a custodial intermediary. The product also allows accounts to be funded directly with BTC from the wallet in a single transaction, avoiding conversions or cross-platform transfers. Blockchain.com stated it expects to expand the offering to include additional asset classes like foreign exchange, stocks, and commodities in the near future.
This launch occurs amid a broader industry trend of perpetual futures expanding beyond crypto. In February, Kraken launched tokenized equity perpetual futures for non-US clients. In March, Coinbase followed by introducing stock-based perpetual futures for non-US users. Data from Hyperliquid shows commodity- and index-linked perpetual contracts, such as those for oil, the S&P 500, and silver, are among its most actively traded markets alongside major cryptocurrencies.
The regulatory landscape is also evolving. Michael Selig, chair of the Commodity Futures Trading Commission (CFTC), indicated last month that the regulator plans to allow these contracts in the coming weeks. Furthermore, prediction market platform Kalshi is reportedly exploring an entry into crypto derivatives, including perpetual futures trading in the United States.
