As its regulatory tensions in the country continue to mount, Coinbase has announced an international crypto exchange offering cryptocurrency derivatives for users outside the United States.

The international exchange offers Bitcoin and Ethereum “perpetual futures,” a type of commercial contract that is prohibited in the United States. The international exchange has been launched in Bermuda and will offer Bitcoin and Ethereum “perpetual futures” to users. However, this type of offer is currently prohibited in the United States. According to Coinbase, these contracts accounted for nearly 75% of the global crypto trading volume last year, creating “highly liquid markets” and offering traders “additional versatility in their trading strategies

Coinbase believes that “the creation of a global perpetual futures exchange for digital assets will help support an update of the financial system by making Coinbase's trusted products and services more accessible to digital asset users who live outside of the United States.”