The cryptocurrency exchange’s international arm previously only allowed institutional users outside of the U.S. to trade perpetual futures.

Coinbase International Exchange has secured regulatory approval from the Bermuda Monetary Authority to offer BTC and ETH perpetual futures trading to eligible retail customers outside of the U.S.

The cryptocurrency exchange’s international arm, which debuted in May, has allowed institutional users based in eligible jurisdictions to trade perpetual futures. Now, the platform will expand its services through its retail trading platform Coinbase Advanced in the coming weeks as part of its plans for global expansion.

Coinbase Advanced will begin to offer perpetual futures trading in the coming weeks, as access to regulated derivatives expands to more global customers. Check your eligibility at https://t.co/lJOJgQa3hk

— Coinbase International Exchange 🛡️ (@CoinbaseIntExch) September 28, 2023

According to the platform, near-term priority markets include Europe (EU and UK), Canada, Brazil, Singapore, and Australia.

Perpetual futures contracts are a type of futures contract that does not have an expiration date. According to Coinbase, perpetual futures accounted for nearly 75% of global crypto trading volume in 2022.

All perpetual futures trading through Coinbase International Exchange is settled in USDC rather than an exchange token, it said.

Despite ongoing tension with the U.S. Securities and Exchange Commission (SEC), in August, Coinbase won approval from the National Futures Association (NFA) to list crypto futures in the U.S. through Coinbase Financial Markets, becoming the first crypto-focused platform in the U.S. to offer regulated and leveraged crypto futures.