Coinbase rolled out a series of platform updates in May, spanning derivatives, institutional services, network infrastructure, and ecosystem partnerships. The marquee move: the exchange became the first regulated firm authorized to offer global crypto perpetual futures and options to U.S. traders.
Perpetuals and Options: Tapping Deribit Liquidity
According to Coinbase, the Commodity Futures Trading Commission approved its launch of regulated perpetual futures and options for U.S. users. The product taps into Deribit’s crypto derivatives liquidity pool, which includes over $31 billion in Bitcoin options open interest. Separately, Coinbase introduced gold and silver perpetual futures for eligible markets outside the U.S., with a U.S. launch planned later.
Standard Chartered Partnership: Six New Fiat Channels
Coinbase also announced a partnership with Standard Chartered. Through Coinbase Prime, institutional clients can now fund accounts using AUD, SGD, CAD, CHF, EUR, and GBP, significantly broadening the traditional fiat onramp.
Base Network: AI Agents, Mainnet Upgrade, and Payment Infrastructure
Multiple updates hit Coinbase’s layer-2 network Base. The new Base MCP tool lets AI agents connect to Base accounts and execute onchain actions like swaps and portfolio management. Base Azul went live on mainnet as an independent network upgrade aligned with Ethereum specifications. Additionally, Coinbase Developer Platform integrated wallet infrastructure into Amazon Bedrock AgentCore for agent payments and spending controls. Batch settlement via x402 now supports consolidating multiple API transactions.
Hyperliquid Deepening and SOL-Backed Loans
Coinbase confirmed it became the official USDC treasury deployer for Hyperliquid and increased its staked HYPE position. It also launched SOL-backed loans, allowing eligible users to borrow up to $100,000 USDC without selling their SOL holdings.
CEO Brian Armstrong highlighted the month’s milestones: derivatives expansion, the Hyperliquid partnership, precious metals products, and broader institutional fiat access. These moves cement Coinbase’s role as a leader in regulated crypto financial infrastructure.