Coinbase plans to offer 24/7 single stock perpetual contracts to U.S. users, pending CFTC approval

Coinbase, the cryptocurrency exchange, submitted Form 1-N and Form BD-N to the U.S. Securities and Exchange Commission (SEC) on September 1 through Coinbase Derivatives and Coinbase Financial Markets, respectively, intending to launch single-stock perpetual contracts in the U.S. Coinbase's Chief Policy Officer Faryar Shirzad stated that the next step for the related products still requires approval from the U.S. Commodity Futures Trading Commission (CFTC).

The two documents pertain to registration as a securities futures exchange and a limited-purpose securities futures broker. Since March 20, Coinbase has been offering 10x perpetual contracts on stocks such as Apple, Nvidia, and Tesla to non-U.S. users, settled in USDC and supporting 24/7 trading. U.S. users were previously explicitly excluded from this product.