On March 20, Coinbase launched stock perpetual futures enabling 24/7 leveraged trading of Mag 7 stocks and ETFs for non-U.S users via USDC settlement.
Author: Kritika Gupta
20th March 2026- Coinbase has launched stock perpetual futures exclusively for eligible non-U.S. retail and institutional traders. As a result, users can now gain 24/7 access to major U.S. equities and ETFs without waiting for traditional market hours. The new contracts cover the full Magnificent 7, including Apple, Microsoft, Alphabet, Amazon, Nvidia, Meta, and Tesla.
In addition, they include SPY and QQQ ETFs in select jurisdictions. The exchange settles all contracts in USDC and offers up to 10x leverage on individual stocks and 20x on ETFs. Coinbase powers the product with the same cross-margin risk engine that supports its crypto derivatives suite.
The launch marks Coinbase’s first dedicated perpetual futures product tied to individual U.S. equities, positioning the exchange to compete with decentralized platforms like Hyperliquid that have dominated always-on equity derivatives trading.
High Signal Summary For A Quick Glance
The Crypto Times
@CryptoTimes_io
BIG: Coinbase introduces stock futures for non-U.S. traders, unlocking round-the-clock leveraged access to equities and ETFs. https://t.co/Fv0ImUspRG
10:47 AM·Mar 20, 2026
BSCN
@BSCNews
🚨JUST IN: COINBASE LAUNCHES 24/7 STOCK PERPETUAL FUTURES FOR NON-U.S. TRADERS @Coinbase has launched perpetual futures on U.S. equities for non-U.S. traders, offering round-the-clock exposure to Apple, Microsoft, Nvidia, and S&P 500 ETFs with up to 20x leverage. The product https://t.co/DxSoqD5YXS
10:46 AM·Mar 20, 2026
CoinDesk
@CoinDesk
NEW: @Coinbase launches stock perpetual futures for non-U.S. traders, offering 24/7 exposure to U.S. equities including Apple, Microsoft, Nvidia, and S&P 500 ETFs with up to 20x leverage. https://t.co/O7wKHjPHLZ
10:38 AM·Mar 20, 2026
Steady attention without excessive speculation.
This launch follows Coinbase’s aggressive “Everything Exchange” roadmap announced in late 2025. Since then, the company has steadily expanded beyond crypto into traditional financial markets. In July 2025, Coinbase launched CFTC-regulated crypto perpetual futures. In September 2025, it introduced Mag7 index futures. By December 2025, it rolled out U.S. stock trading. Most recently, in March 2026, it added regulated futures access across 26 European countries.
Because global traders increasingly demand always-on exposure to traditional assets, Coinbase identified a clear opportunity. Previously, decentralized platforms had dominated this niche. However, Coinbase now aims to capture that liquidity through regulated centralized infrastructure while leveraging its existing derivatives stack and USDC settlement rails.
Notably, this marks Coinbase’s first dedicated perpetual futures product tied directly to individual U.S. equities and ETFs. Earlier offerings focused mainly on crypto perpetuals or quarterly index futures. The exchange had already signaled this move in its December 2025 system update. At that time, Coinbase confirmed broader stock perpetual access would arrive in early 2026. Meanwhile, similar instruments already exist on decentralized venues such as Hyperliquid.
Eligible traders can access the new contracts through Coinbase Advanced or the International Exchange platform. Before trading, users must pass standard risk and suitability assessments. Because perpetual contracts have no expiry dates, traders can hold positions indefinitely. Funding rates help keep contract prices aligned with underlying spot markets.
USDC settlement allows seamless integration with existing crypto balances and wallet infrastructure. Cross-margin functionality lets traders deploy capital efficiently across spot, derivatives, and stablecoin positions. Coinbase has also implemented leverage caps to manage risk exposure. Specifically, it limits leverage to 10x on single stock contracts and 20x on ETF products.
Historically, Coinbase’s derivatives expansions have produced volume-driven market responses. For example, the July 2025 crypto perpetual debut triggered retail inflows and lifted Coinbase stock performance in the following week. Likewise, the September 2025 Mag7 index futures announcement boosted sentiment and platform activity.
Looking ahead, Coinbase has hinted at further tokenized stock integrations and broader ETF listings. As demand for continuous global market access grows, the exchange will likely accelerate listings and deepen liquidity pools. At the same time, evolving regulatory pathways could eventually open similar products to U.S. users. Overall, this move reinforces the ongoing convergence between crypto infrastructure and traditional financial markets.
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