Coinbase seeks SEC and CFTC approval for single-stock perpetual futures
Coinbase is making moves to bring single-stock perpetual futures (basically, a way to bet on individual stocks with leverage, without actually owning them) to US investors.
Right now, only international users can access these contracts, but Coinbase has filed with the SEC and is working with the CFTC for approval.
If all goes well, it's aiming for a US launch by the end of this year.
Crypto platforms expand into traditional finance
This isn't just about Coinbase: crypto platforms everywhere are starting to offer more traditional finance products.
Kalshi Inc. for example, won CFTC approval for Bitcoin perpetual futures and plans to roll out similar contracts tied to stock indexes.
After Coinbase's announcement, its stock jumped 10% on Thursday, its biggest one-day gain since May, which shows how big this move could be as it branches out beyond just crypto trading.