Coinbase has launched regulated crypto derivatives trading for eligible Canadian customers, becoming the first major crypto-native platform to offer direct native crypto futures in the country.

The new offering comprises 23 perpetual and dated futures contracts tied to Bitcoin (BTC), Ether (ETH), and Solana (SOL). The contracts provide leverage of up to 10x and are available alongside five commodity futures contracts and the Coinbase 50 Index.

The launch gives sophisticated Canadian investors regulated access to crypto derivatives while advancing Coinbase's strategic expansion beyond spot trading toward operating as a broader financial markets platform. That push has included Coinbase's acquisition of Deribit, one of the largest crypto options and futures exchanges, reflecting how derivatives have become a central competitive battleground for major platforms.

Access is limited to Canadian customers with at least $5 million in net assets, as well as registered investment dealers and advisers. That threshold places the product squarely in the institutional and high-net-worth segment rather than the retail market.

Coinbase is the latest in a series of trading platforms to enter the Canadian market recently, a period marked by tightening oversight of certain parts of the crypto sector. Canada has been an active regulatory focal point for the industry: the federal government has proposed banning crypto ATMs over concerns about fraud and money laundering, and the country's regulated crypto framework has continued to evolve under the oversight of the Canadian Securities Administrators. Offering derivatives through a regulated framework, rather than offshore venues that many traders have historically used, is part of a broader industry shift toward compliant products.

Crypto futures allow traders to speculate on the price direction of underlying assets without holding them directly, and perpetual contracts—popular in crypto markets—have no expiry date, unlike dated futures. Coinbase already offers similar derivative products in other regulated jurisdictions, including the United States through its CFTC-regulated platform.

The move underscores growing institutional demand for regulated crypto derivative products in North America, where both traditional exchanges and crypto-native firms have been expanding their offerings. Whether Canadian regulators permit broader retail access to similar leveraged products, and how other platforms respond to Coinbase's entry, will shape the next phase of competition in the market.