Coinbase and Kraken are moving beyond crypto derivatives, with both exchanges filing to offer US traders perpetual futures tied to individual stocks.
Coinbase has asked U.S. regulators to approve perpetual futures covering more than 50 individual stocks, including Nvidia, Apple, Microsoft, and Tesla. The company said the products could launch later this year if approved, building on its existing US perpetual futures market to bring liquid, 24/5 exposure to single stocks for the first time.
Kraken’s parent company, Payward, filed separately to offer single-stock perpetual futures on Kraken, starting with 10 US equities including Tesla, Nvidia, Apple, Microsoft, Amazon, Alphabet, Broadcom, Micron, and Palantir. Payward is also working toward 24/5 trading. “Stock markets close, and the events that move them don’t,” the company said, arguing traders should be able to respond to market-moving news outside regular hours.
If approved, the products would let traders speculate on stock prices without owning the underlying shares, marking a significant expansion of crypto-native derivatives platforms into traditional equity markets.
