Cryptocurrency exchange Coinbase has launched new futures offerings in Europe, expanding its push to give users access to both crypto and the traditional market through regulated products.
Coinbase said on Monday that contracts will be rolled out to Coinbase Advanced users in 26 European countries, including Germany, France and the Netherlands, through the Markets in Financial Instruments Directive, or MiFID.
The new lineup includes asset-linked crypto futures such as Bitcoin (BTC) and Solana (SOL), as well as an equity index product called Mag7 + Crypto Equity Index Futures. Coinbase said the deal combines exposure to the so-called Fantastic Seven stocks of Apple, Microsoft, Alphabet, Amazon, Nvidia, Meta and Tesla, with crypto stocks and BlackRock’s iShares exchange-traded funds linked to BTC and Ether (ETH).
The exchange said it has launched two types of cash-settled futures contracts, including perpetual futures with maturities of five years and contracts with specific monthly or quarterly maturities. Traders can get up to 10x leverage on selected crypto contracts and stock indices and up to 5x leverage on other products with fees as low as 0.02% per contract.
ESMA warns that perpetual crypto derivatives may fall under CFD rules
The launch comes nearly two weeks after the European Securities and Markets Authority warned firms that many derivatives marketed as perpetual futures or perpetual contracts could fall under existing national intervention measures on products for contracts for difference (CFDs).
In a statement on February 24, ESMA said that products that meet the definition of CFDs must have leverage limits, mandatory risk notification, margin closing rules, negative balance protection and prohibition of monetary and non-monetary benefits. The regulator also told the companies to identify, avoid or manage conflicts of interest related to these offers.
Coinbase also announced on Friday the expansion of its decentralized exchange (DEX) platform to 84 countries.
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Coinbase is doubling down on dreams of “sharing everything”.
Coinbase called the derivatives launch a “huge step” in its goal of building an “everything exchange” where users can trade all major global assets on a single platform.
“As regulatory clarity matures across Europe and around the world, we look forward to continuing to introduce new and expanded services,” Coinbase said in the announcement.
Other cryptocurrency exchanges that have launched fixed-term contracts in Europe include One Trading, Kraken, Backpack and Gemini.
Cointelegraph reached out to Coinbase for comment, but did not receive a response from the publication.
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