Coinbase launches international exchange for institutional clients, offering Bitcoin and Ethereum perpetual futures. The new exchange has received regulatory approval from the Bermuda Monetary Authority and trades will be settled in USD Coin with security features including real-time risk management, dynamic margin requirements, and rigorous compliance standards.

Institutional clients in eligible non-US jurisdictions can access the platform directly through an API, but retail customers will not initially have access. Coinbase's international expansion will focus on high-bar regulatory jurisdictions as more countries worldwide move forward with responsible, crypto-forward regulatory frameworks. The company has been in a war of words with the US Securities and Exchange Commission since July 2022.