Coinbase Files SEC Notices for US Single-Stock Perpetual Contracts

Coinbase has filed two SEC notice registrations to bring single-stock perpetual contracts to the United States through its regulated derivatives exchange and brokerage. The filings establish a dual SEC-CFTC route, with Coinbase Derivatives providing the market where contracts are listed and Coinbase Financial Markets serving as the regulated intermediary for customers.

The company plans to work with the Securities and Exchange Commission and the Commodity Futures Trading Commission as it brings more financial products into the U.S. market. The SEC's Form 1-N instructions state that the notice supplies the agency with information about the exchange's ownership, operations, rules, trading systems, and disciplinary procedures.

Coinbase launched stock perpetual futures for eligible customers outside the United States in March, providing synthetic exposure to seven technology stocks including Apple, Microsoft, Alphabet, Amazon, Nvidia, Meta, and Tesla. The international contracts traded continuously, including during weekends, and initially offered leverage of up to 10 times.