Coinbase Expands US Market Presence with CFTC-Regulated Perpetual Futures and American Express Co-Branded Bitcoin Rewards Credit Card
Coinbase, the US-listed exchange, announced the launch of two new products in the US market at the annual cryptocurrency summit on June 12: CFTC-regulated perpetual futures trading and an American Express co-branded credit card offering up to 4% Bitcoin rewards, expanding compliance derivatives and daily payment offerings.
Max Branzburg, Consumer and Business Products lead at Coinbase, pointed out that the derivatives market currently accounts for 75% of the global cryptocurrency market trading volume, with the retail perpetual futures volume on the Coinbase international platform reaching $5 billion in May, but there is no corresponding service in the US market.
The launch of CFTC-approved compliant perpetual futures and high-rewards credit cards is aimed at targeting leveraged traders and high-spending users.
Coinbase Perpetual Futures Details
The new product is designed with the characteristic of offshore perpetual futures with “no expiration date”, anchored by funding rates and spot prices, and operates in accordance with US margin and clearing regulations, basically similar to perpetual contracts provided by various exchanges.
Branzburg stated, “Coinbase does not intend to let cryptocurrency derivative trading become a non-US phenomenon.” Now, US investors can use perpetual contracts within a compliant regulatory framework, reducing the incentive for capital outflows to offshore exchanges.
Bitcoin Rewards Credit Card
On the other hand, the Coinbase One credit card is expected to be issued in the fall, issued by First Electronic Bank and processed online by American Express. Cardholders can receive up to 4% BTC rewards for each transaction, with rewards directly deposited into the Coinbase wallet and no foreign transaction fees. If the user has a larger asset position on the platform, the reward rate will increase.
Currently, the card is only open to Coinbase One members, with an annual fee of $49.99. Members also enjoy commission-free spot trading for the first $500, a 4.5% annual yield limit of $10,000 for USDC, a 5% bonus on staking rewards, and a $10 monthly Base Wallet Gas subsidy. The new card targets high-end customers with Bitcoin rewards.
Strategic Impact
The introduction of perpetual futures fills the gap in Coinbase’s leveraged tools in the US, which may attract capital inflows and increase platform trading volume; the credit card brings Bitcoin directly into retail payments, increasing user stickiness and asset retention. The company has also recently announced its inclusion in the S&P 500, a $2.9 billion acquisition of Deribit, and partnerships with Shopify and Stripe to promote stablecoin payments, adding more chips to the fiercely competitive exchange battlefield.
