Coinbase Opens Regulated Crypto Derivatives to Canadian Traders
Coinbase has opened regulated crypto derivatives to Canadian traders, marking a significant milestone in the country's growing cryptocurrency market. The platform announced on September 2 that eligible investors can now access derivative contracts through Coinbase Financial Markets (CFM), a futures commission merchant registered with the U.S. Commodity Futures Trading Commission.
This move makes Coinbase the first major crypto-native platform to offer direct native crypto futures in Canada, according to the company. Before this development, Canadians seeking exposure to crypto-derivative products often turned to offshore or unregulated venues.
The derivatives launch includes 23 perpetual and dated futures covering Bitcoin, Ether, and Solana, as well as five commodity contracts and index products such as COIN50. The contracts are nano-sized, with leverage of up to 10 times, aiming to lower the upfront capital required for traders. Positions can be opened long or short.
Coinbase is currently charging launch pricing of 0.02% per trade plus a flat 11 cents per contract for a limited time. The company warns that leverage can cause losses to exceed an initial deposit and emphasizes that futures are not suitable for everyone, citing the Bank of Canada's data showing one-third of publicly listed Canadian non-financial corporations use derivatives to hedge their earnings.