Coinbase Unveils Derivatives for UK Pro Investors Amid Diversification Push

Coinbase has expanded its trading platform in the UK by launching derivatives for professional investors. The move marks a significant step towards achieving the company's 'Everything Exchange' strategy, which aims to provide a one-stop shop for various financial products.

The new derivatives offerings include perpetual futures with up to 50 times leverage, fixed-expiry futures with up to 20 times leverage, and options limited to crypto assets. The rollout is part of Coinbase's efforts to diversify its business beyond spot Bitcoin trading and follows the recent acquisition of a Markets in Financial Instruments Directive (MiFID) license in the European Union.

The launch also underscores the company's focus on expanding its product offerings in the UK, including the introduction of about 4,000 U.S. stocks for eligible users last week. Coinbase's second-quarter results showed that 88% of net revenue came from businesses other than spot Bitcoin trading, highlighting the company's diversification push.