Coinbase has secured regulatory approval to offer global crypto perpetual futures to U.S. users, a breakthrough that CEO Brian Armstrong says reconnects American traders with the world’s most active derivatives market. The Commodity Futures Trading Commission (CFTC) greenlit the offering, making Coinbase the first regulated U.S. platform to provide access to these products after years of discussions with policymakers.
Armstrong announced the milestone on X, stating, “Coinbase got approved to offer true global crypto perps in the US. This took many years of work, and we’re the first to offer this global liquidity to US users.” He highlighted that perpetual futures – which don’t expire and are kept aligned with spot prices through funding payments – now account for approximately 80% of global crypto trading volume. Industry data shows these contracts generated $61.7 trillion in trading volume in 2025 alone.
With the approval, Coinbase will connect U.S. traders to global liquidity pools, including those from Deribit, the offshore derivatives exchange it acquired for $2.9 billion earlier this year. The company also plans to launch its own U.S. Perpetual-Style Futures product on July 21. Armstrong noted that the fragmented market had forced many Americans to use offshore platforms via VPNs with lax KYC controls, and he described the new arrangement as a chance to build a global network effect around liquidity while keeping traders within a compliant framework.
Armstrong credited CFTC Chair Harry Selig and SEC Chair Paul Atkins for supporting the regulatory shift, which he tied to a change in administration and sustained industry advocacy. The move is part of a broader product expansion by Coinbase, which recently unveiled a Fannie Mae-insured mortgage backed by Bitcoin collateral and joined Mastercard’s AI-powered stablecoin payments network.
