Coinbase Debuts Stock Perps for Non-U.S. Clients

Cryptocurrency exchange Coinbase has rolled out a new derivatives offering. This initiative allows eligible traders outside the United States to trade perpetual futures tied to major U.S. entities.

According to the press release, the newly launched stock perpetual futures provide users with leveraged, synthetic exposure to publicly listed U.S. stocks. This set of highly liquid stocks is the leading companies referred to as the “Magnificent 7.”

They include Apple Inc., Microsoft, Alphabet Inc., Amazon, NVIDIA, Meta Platforms, and Tesla. Exchange-traded funds (ETFs) perpetual futures are not excluded. SPY and QQQ, which track the S&P 500 and Nasdaq 100 indices, are also available in some regions.

According to Coinbase, these products are available only to non-U.S. retail traders and institutions with restrictions in certain jurisdictions.

24/7 Access to U.S. Entities

The traditional stock market operates only on weekdays and during fixed hours. Perpetual futures, on the other hand, are open 24/7, every day, including weekends. This aligns with the cryptocurrency market’s always-on nature. As such, Coinbase’s recent move is key to expanding its global trading suite with continuous, 24/7 access.

The new initiative will also provide traders with uninterrupted access to stocks on a regulated, centralized platform. This will be of significant benefit to users in markets where U.S. stocks are limited and/or expensive.

The derivatives product offers leverage ranging between 10x and 20x. That is, up to 10x on single-name stocks and up to 20x for ETF perpetual futures. Furthermore, USD Coin (USDC), a dollar-pegged stablecoin issued by Circle, serves as the settlement currency.

Stock Perpetuals Reward Campaign

To celebrate the debut of stock perpetuals, Coinbase launched a reward pool worth up to $200,000 in USDC. To participate in the campaign, users need to generate at least $1 million in cumulative volume. They can do this by trading stock perpetual markets between now and April 30, 2026.

Each user can earn up to $10,000 in USDC. Participants can also increase their reward share by increasing their trading activity. After the campaign ends, they will receive their payout within 30 days.