Coinbase Seeks Approval for Single-Stock Perpetual Futures

Coinbase has taken a significant step into mainstream equity derivatives by filing to list U.S. single-stock perpetual futures, according to WSJ reporting.

The product would allow for perpetual-maturity, cash-settled futures on individual U.S. equities, with NVIDIA (NVDA.US), Microsoft (MSFT.US), and Tesla (TSLA.US) named in the filing.

Unlike expiring options or quarterly futures, perpetuals have no fixed expiration and use funding payments to keep the contract price in line with the underlying.

The move is a hard one for a crypto-native exchange into mainstream equity derivatives, putting it directly against traditional options and futures incumbents if approved.