Coinbase Brings Crypto Futures to Canadian Traders
Coinbase (NASDAQ: $COIN) has launched regulated crypto derivatives for eligible Canadian traders, giving them access to perpetual and dated futures through its platform.
In a Tuesday blog post , Eric Richmond, the Country Director and CEO of Coinbase Canada, said the offering includes 23 crypto futures tied to assets such as Bitcoin (CRYPTO: $BTC), Ether (CRYPTO: $ETH) and Solana (CRYPTO: $SOL). Traders can also access five commodity futures covering gold, silver and oil, along with index futures including COIN50.
Derivatives are widely used by corporations and financial institutions to hedge exposure and manage market risk. The Bank of Canada estimates that about one-third of publicly listed Canadian non-financial companies use derivatives to hedge earnings.
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"Historically, Canadian traders looking to access crypto-derivative products have often had to rely on unregulated or offshore platforms. Today, that changes," Richmond wrote.
Demand for crypto derivatives has also grown well beyond spot markets. Global crypto derivatives trading volume is roughly 4.4 times the volume of spot trading, according to Coinbase.
The new contracts include nano-sized products aimed at lowering the amount of capital required to open positions. Eligible traders can take long or short positions and use leverage of up to 10 times, although Coinbase warned that leveraged futures can result in losses exceeding the initial investment.
The futures are offered by Coinbase Financial Markets (CFM), a registered futures commission merchant overseen by the US Commodity Futures Trading Commission and a member of the National Futures Association.
Coinbase is also launching the Canadian derivatives offering with promotional pricing of 0.02% per trade, plus a flat $0.11 fee per contract, for a limited period.
Coinbase also expanded its partnership with Webull into Canada this week. The deal lets Canadian customers trade assets including Bitcoin, Ethereum and Solana directly through Webull.
