Coinbase to Bring Global Crypto Derivatives to US

Moreover, they will now be able to trade instruments that have been previously dominated by offshore platforms, potentially boosting crypto adoption in the country.

While Deribit, one of the worlds largest crypto derivatives platforms, currently holds over $31 billion in Bitcoin options open interest, Coinbase further revealed that it now offers institutional clients access to global crypto options through Deribit.

In addition to this, Coinbase shared future plans to enhance the offering with additional collateral types and perpetual futures products in the near future.

CEO Armstrong reacts

Following the announcement, the CEO of Coinbase, Brian Armstrong, commented on the development while spotlighting its relevance for crypto traders in the U.S.

Armstrong noted that the development marks a huge milestone for the American crypto ecosystem as American users had previously been excluded from about 80% of the global crypto market due to restrictions surrounding perpetual futures and options products.

However, American users now have exclusive access to the global crypto derivatives market, all thanks to the CFTCs latest approval.