Odaily reported that Coinbase CEO Brian Armstrong said in a post on X that Coinbase has received approval to offer what he described as true global crypto perpetual contract trading services in the United States. According to Armstrong, Coinbase will become the first platform to bring global liquidity to U.S. users, allowing them to access a perpetuals market connected with international liquidity.
U.S. Users to Access Global Liquidity
Armstrong said that for years, crypto trading activity had continued to move offshore because the United States lacked clear regulatory rules. Perpetual contracts could not previously be legally offered in the U.S., leaving related trading demand outside the domestic compliant market structure. With this approval, Coinbase can now give U.S. users access to a perpetuals market that connects to global liquidity.
He also stated that about 50% of perpetual contract trading volume may have come from U.S. users accessing offshore platforms through VPNs and relying on looser KYC requirements. In his account, the demand from U.S. users for these products already existed, but the service had not previously been available legally within the United States.
Washington Discussions and Coinbase Policy Work
Armstrong attributed the progress to his repeated trips to Washington, D.C. for discussions, as well as the work of Coinbase’s policy team. After the approval, the U.S. market and international market can be connected through perpetual contract trading services, which is the central point behind his statement that global liquidity is being brought to U.S. users.
Armstrong also thanked U.S. CFTC Chair Caroline Pham Selig and Paul Atkins for recognizing the importance of the matter. He said Coinbase will continue to upgrade the financial system in a compliant manner and provide global crypto perpetual contract trading services to U.S. users under the approved framework.