Coinbase launches perps for wholesale investors

Coinbase Australia is launching perpetuals contracts (perps), with three different options ranging from cryptocurrency, equity, and commodity assets, available to eligible wholesale investors.

The firm said the domestic crypto market is maturing, and investors are constantly on the lookout for alternative investment methodologies other than 'spot buying', stating the launch will provide locally licenced perpetual trading capabilities for crypto, equity and commodity assets.

Under the structure, investors will now gain access to institutional-grade liquidity, advanced order types and API integration, with up to 50x leverage on 150 contracts, Coinbase said.

"With this launch, certified wholesale investors gain access to leverage trading via an expansive range of perpetuals, enabling trading across all market conditions," Coinbase Australia chief operating officer Adam Judd said.

"By enabling perpetuals on Coinbase, we are allowing wholesale investors to hedge their portfolios, speculate on volatility, and access capital-efficient trading strategies.

"With 24/7 liquidity, instant settlement, and a 'one-tap' transition from spot to perps, we've made sophisticated trading accessible."

The launch of perpetual contracts in Australia follows Coinbase Australia's approval for an Australian financial services licence (AFSL) in April 2026, and is the first product launch since.

"More broadly it signals our long-term commitment to the region. Coinbase now provides Australian traders with a regulated and licensed derivatives products suite to meet their growing demands," Judd continued.

It comes as ASIC noted the perps are "high-risk" and "speculative", telling Financial Standard that it is scrutinising the sector intently.

"ASIC is aware of speculative, high-risk derivatives known as perpetual futures, or perps, being offered to Australian retail investors," an ASIC spokesperson said.

"Businesses offering derivatives, including perps, will generally require an AFSL.

"ASIC takes unlicensed conduct seriously and where it identifies serious misconduct it won't hesitate to take further action."