Coinbase Pursues First Single Stock Perpetual Futures in US Market

Coinbase has filed with the SEC to offer single stock perpetual futures in the US, a move that could merge traditional equity trading with crypto market mechanics.

The exchange has already tested this product internationally and is now seeking CFTC approval for the US launch.

Perpetual futures allow traders to take leveraged long or short positions on an asset without owning it, and can be used to bet on a stock's price movement 24 hours a day, 7 days a week.

Coinbase didn't disclose which specific stocks will be available for trading or when the service might begin, but its shares jumped roughly 10% on the news.