Coinbase CEO Hails XRP Perpetual Futures Launch as Great Progress

Coinbase CEO Brian Armstrong applauds the exchange’s move to add XRP and Solana to its perpetual futures offering in the United States.  For context, Coinbase recently added XRP and Solana to the list of supported assets for perpetual-style futures. Notably, the inclusion of XRP and Solana raises the total number of assets available for perpetual futures to four.  The San Francisco-based exchange launched the perpetual futures offering for U.S. customers last month, with initial support for Bitcoin and Ethereum. Less than a month after this launch, Coinbase has now expanded the offering to include XRP and Solana.  Coinbase CEO Calls XRP and Solana Perpetual Futures US Launch Great Progress  According to the announcement, U.S. traders can open and hold XRP perpetual futures, with a leverage of up to 5x and no monthly contract expiration.  The XRP perpetual futures are offered through the Coinbase Derivatives platform, which is licensed by the Commodity Futures Trading Commission (CFTC). This implies that the perpetual futures offering for XRP and Solana will be regulated under CFTC rules.  Reacting, Coinbase CEO Brian Armstrong applauded the initiative, describing the latest expansion in the United States as “great progress.”  https://twitter.com/brian_armstrong/status/1957894005024338417 Previous Perpetual Futures Support  Notably, the Coinbase perpetual futures offering has been available in several eligible countries other than the United States.  In October 2023, the exchange granted customers in eligible international jurisdictions access to its perpetual futures offering, which initially supported four assets such as XRP, Litecoin, Bitcoin, and Ethereum.  Despite launching perpetual futures in other countries, Coinbase did not introduce a similar offering in the U.S. due to regulatory concerns. As the United States makes significant progress in regulating the crypto market, Coinbase launched perpetual futures for U.S. customers last month, starting with Bitcoin and Ethereum. The exchange has now expanded the offering to include XRP and Solana.  The perpetual futures offering is not the first time Coinbase has extended derivative support for XRP. Earlier this year, the leading exchange launched self-certified XRP futures in the United States.