Cryptocurrency exchange Coinbase has launched new futures offerings in Europe, expanding its push to give users access to both crypto and traditional market exposure through regulated products.
Coinbase said Monday the contracts are being rolled out to Coinbase Advanced users in 26 European countries, including Germany, France and the Netherlands, through its Markets in Financial Instruments Directive, or MiFID, entity.
The new lineup includes crypto futures tied to assets such as Bitcoin (BTC) and Solana (SOL), along with an equity-index product called the Mag7 + Crypto Equity Index Futures. Coinbase said that contract combines exposure to the so-called Magnificent Seven stocks of Apple, Microsoft, Alphabet, Amazon, Nvidia, Meta and Tesla, with crypto-linked equities and BlackRock iShares exchange-traded funds tied to BTC and Ether (ETH).
Coinbase Mag7 + Crypto Equity Index composition. Source: CoinbaseThe exchange said it has launched two types of cash-settled futures contracts, including perpetual-style futures with five-year expiries and dated contracts with specific monthly or quarterly expiries. Traders can access up to 10x leverage on select crypto-denominated contracts and equity indices and up to 5x leverage on other products, with fees as low as 0.02% per contract.
ESMA warns crypto perpetual derivatives may fall under CFD rules
The launch comes about two weeks after the European Securities and Markets Authority warned firms that many derivatives marketed as perpetual futures or perpetual contracts are likely to fall under existing national product intervention measures for contracts for difference (CFDs).
In a Feb. 24 statement, ESMA said products that meet the CFD definition are subject to leverage limits, mandatory risk warnings, margin close-out rules, negative balance protection and a ban on monetary and nonmonetary benefits. The regulator also told firms to identify, prevent or manage conflicts of interest tied to those offerings.
Coinbase also announced expanded access to its decentralized exchange (DEX) trading platform to 84 countries on Friday.
Related: Crypto exchanges gain as tokenized commodity market climbs to $7.7B
Coinbase doubles down on “everything exchange” ambitions
Coinbase called the derivatives rollout a “major step” in its ambition to build an “exchange for everything,” where users can trade all major global assets under a single platform.
“As regulatory clarity continues to mature across Europe and globally, we are looking forward to continuing to introduce new and expanded services,” Coinbase said in the announcement.
Other cryptocurrency exchanges that launched regulated perpetual contracts in Europe include One Trading, Kraken, Backpack and Gemini.
Cointelegraph reached out to Coinbase for comment, but had not received a response by publication.
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