Coinbase said it has secured a UK investment services authorization, giving the company room to expand its local product suite beyond spot crypto trading and into equities and derivatives. The exchange described the approval as its largest product expansion in the United Kingdom since entering the market, and said it supports its long-term vision of building an “everything exchange” that combines crypto assets and traditional financial instruments on a single platform.
According to Coinbase, the new authorization will allow UK users to trade financial instruments alongside crypto on the same venue. Under the planned structure, institutional clients and advanced traders will be able to access perpetual futures tied to crypto, equities and commodities, while retail users will be offered access to equities. Coinbase added that any additional rollout will still depend on the scope of regulatory permissions and compliance with UK market rules.
Approval arrives as the UK prepares a broader crypto regime
Coinbase cited research from the Financial Conduct Authority showing that around 7 million UK adults hold crypto assets. The company also pointed to data suggesting that one-quarter of UK adults who do not currently own crypto would be more likely to participate if the regulatory environment were clearer. That backdrop helps explain why the UK remains a strategically important market for major exchanges pursuing regulated expansion.
The timing of the authorization is also notable because it comes ahead of the UK’s new crypto regulatory framework. Under the current timeline, the regime will begin accepting applications in September and is scheduled to take effect in October 2027. Once in force, it will require crypto trading platforms, custodians, stablecoin issuers, staking providers and other intermediaries to obtain FCA authorization. For Coinbase, obtaining an investment services license now may strengthen its compliance position before the broader framework is fully implemented.
The FCA did not comment before publication.
Retail access to crypto derivatives remains restricted
The difference between the products available to institutional and advanced traders and those available to retail users reflects existing FCA rules on retail access to crypto-related investment products. In 2021, the regulator banned the sale, marketing and distribution to retail consumers of derivatives and exchange-traded notes referencing certain crypto assets.
Since then, the FCA has moved to reopen access to certain crypto ETNs for retail investors, with that change set to take effect on Oct. 8, 2025. Even so, retail consumers will only be able to access such crypto ETNs if they are traded on an FCA-approved, UK-based Recognised Investment Exchange. Those products will also remain subject to financial promotion rules and consumer protection requirements.
At the same time, the FCA has made clear that its ban on retail access to crypto derivatives remains in place. In practice, that means Coinbase’s newly expanded UK offering will still be segmented by user type. While institutional and advanced traders may gain access to a broader range of perpetual futures tied to crypto, equities and commodities, retail clients will continue to face stricter limits, especially in the crypto derivatives segment.