Coinbase Seeks SEC Approval for Single-Stock Perpetual Contracts in the US

Coinbase has taken a significant step towards bringing its derivatives business to the US by filing notice registrations with the Securities and Exchange Commission (SEC) for its derivatives exchange and brokerage business. The company already offers stock perpetual futures to eligible non-US customers, which are cash-settled in USDC and offer up to 10 times leverage for individual stocks and up to 20 times for ETF products.

The SEC filings, dated September 1, cover two Coinbase entities: Coinbase Derivatives, LLC submitted a Form 1-N, while Coinbase Financial Markets, Inc. filed a Form BD-N. The company plans to work closely with the SEC and Commodity Futures Trading Commission (CFTC) to bring single-stock perpetual contracts onshore in the US.

Coinbase's move is part of its wider push to expand its derivatives business and bring more financial products into the US market. The company has already launched stock perpetual futures for non-US customers, which include exposure to major companies such as Apple, Microsoft, and Tesla.