Coinbase Launches Crypto Futures in Canada With Up to 10x…

Coinbase has begun offering cryptocurrency derivatives trading in Canada, giving eligible clients access to perpetual and dated futures tied to Bitcoin, Ether, Solana and other digital assets. The products are provided by Coinbase Financial Markets, a futures commission merchant registered with the U.S. Commodity Futures Trading Commission that operates in Canada under foreign dealer and futures commission merchant exemptions.

The initial lineup includes 23 crypto perpetual and dated futures, five commodity futures and the Coinbase 50 Index. Coinbase said it is the first major crypto-native platform to offer direct native crypto futures in Canada. Contracts are nano-sized, which the company says allows more precise exposure management than larger standardized futures. Eligible users can trade with leverage of up to 10x, magnifying both gains and losses.

Access is limited to a narrower set of Canadian customers rather than the broad retail market. Eligible participants include investors with at least $5 million in net financial assets, as well as registered investment advisers and dealers. The structure gives Coinbase a route into derivatives while limiting its initial exposure to retail leverage risk and testing demand from wealthier individuals, advisers and professional trading firms.

Competitive Landscape

The launch comes as U.S. trading platforms deepen their Canadian crypto presence. Webull expanded cryptocurrency trading to Canadian customers earlier in the week, using Coinbase infrastructure for trading and custody and allowing users to trade digital assets alongside stocks, ETFs and options. Webull cited rising adoption, noting that crypto ownership in Canada reached 25% this year, up from 10% in 2023, according to Ontario Securities Commission research. Robinhood also entered Canada through its $180 million acquisition of WonderFi, gaining control of Bitbuy and Coinsquare, roughly 300,000 funded customers and existing Canadian regulatory approvals.

Canadian authorities are simultaneously increasing scrutiny of other crypto activities. Ottawa proposed banning crypto ATMs in April over fraud and money-laundering concerns, and lawmakers have advanced legislation that would prohibit cryptocurrency donations to political parties and candidates.

Coinbase’s futures rollout fits that environment by restricting access to customers meeting financial or professional thresholds. The next test will be whether Canadian professional investors generate enough demand to support deeper crypto derivatives liquidity. If volumes grow, Coinbase could expand its role in Canada’s trading infrastructure while using the country as another regulated market for its derivatives business.