Coinbase is moving to bring single-stock perpetuals to the United States, filing SEC notice registrations this week covering both its derivatives exchange and its brokerage unit. The move marks an early step toward offering U.S. traders leveraged exposure to individual stocks without owning the underlying shares. The company said it intends to work closely with the SEC and the CFTC, with the stated goal of bringing more financial products onshore.

Notice Registrations Filed With the SEC

Coinbase Derivatives filed Form 1-N with the SEC to cover its exchange operations, while Coinbase Financial Markets separately filed Form BD-N for its brokerage business. Together, the two filings create a regulatory pathway involving both the SEC and CFTC — a coordination the company describes as an important step for competitiveness in digital asset markets. That dual-agency posture reflects the product itself: single-stock derivatives sit at the intersection of securities and futures regulation, with the SEC overseeing securities markets and broker-dealers while the CFTC oversees derivatives exchanges and listed futures products.

In a public statement, Coinbase said it is working to bring single-stock perpetuals to the U.S. and that it filed SEC-notice registrations this week for its derivatives exchange and broker. It added that it will be "collaborating closely with the SEC and CFTC" to bring more major financial products onshore.

We're working to bring single stock perps to the US.

This week, we filed SEC-notice registrations for our derivatives exchange and broker.

We'll be collaborating closely with the SEC and CFTC to bring more major financial products onshore. pic.twitter.com/6wvjLXRwih

— Coinbase (@coinbase) September 3, 2026

Faryar Shirzad, Coinbase's chief policy officer, called the filing the first step toward offering equity perpetuals domestically. He said single-stock perpetuals have already shown strong demand in international markets, and that Coinbase is "excited at the prospect of a regulated pathway for U.S. investors." According to Shirzad, the next milestone involves product approval from the CFTC.

The filings establish a framework but do not guarantee an immediate product launch. Coinbase has not released trading start dates or contract specifications, and leverage limits and the list of supported stocks for the U.S. remain undisclosed at this stage. Traders and market watchers will likely wait for further guidance before the product becomes available. The U.S. has a relevant precedent: single-stock futures were permitted under the Commodity Futures Modernization Act of 2000 and later largely phased out in the U.S. after the 2020s, in contrast to the offshore venues where equity perpetuals have continued to trade.

International Perpetuals Offer Early Clues

Coinbase already offers single-stock perpetuals to eligible customers outside the United States. Its current lineup includes shares of Apple, Microsoft, Alphabet, and Amazon, along with Nvidia, Meta, and Tesla.

These overseas contracts allow continuous trading without a fixed expiration date and use funding mechanisms common to perpetual futures products in crypto markets. Traders gain price exposure to the underlying stock rather than shareholder rights such as voting or dividends. The structure mirrors how crypto perpetual swaps already operate on many exchanges, and applying that model to individual equities could appeal to traders seeking leveraged stock exposure. Regulatory approval in the U.S. would extend this format beyond digital assets alone — a shift that would mark one of the clearest cases of crypto-market infrastructure migrating into conventional equity trading.

Coinbase framed the coordination between the SEC and CFTC as necessary for the U.S. to remain competitive, saying investors already want access to these products. Whether approval arrives quickly may depend on how regulators respond to the joint filings. For now, U.S. traders will continue to watch the process unfold.