Coinbase Expands Futures Offerings with Ordinals, Worldcoin Perpetuals

Coinbase International Exchange will soon offer institutional investors access to perpetual futures for Ordinals (ORDI) and Worldcoin (WLD). ORDI, a separate ERC-20 token inspired by the Bitcoin Ordinals protocol, and WLD, the native token of the Worldcoin digital identity project, have both experienced significant price action and trading volumes recently.

Coinbase International Exchange Expands Derivative Offerings with Ordinals and Worldcoin Perpetual Futures

In a significant move to cater to the evolving needs of institutional investors, Coinbase International Exchange has announced the upcoming listing of perpetual futures products for Ordinals (ORDI) and Worldcoin (WLD). This strategic decision, set to take effect on April 11, will provide institutional clients with access to these highly sought-after assets.

Surge in ORDI and WLD Market Activity

Recent months have witnessed a surge in price action and trading volumes for both ORDI and WLD. ORDI has experienced a remarkable surge, skyrocketing by 1,640% since November 1, 2023, reaching an all-time high of $87 on March 5. This surge stems from the growing frenzy surrounding Ordinals-related assets.

It is important to note that the ORDI token is not officially affiliated with the Bitcoin Ordinals deployer or the Ordinals team. Rather, it is a distinct BRC-20 token that derives its name from the Ordinals protocol.

Similarly, Worldcoin has rapidly emerged as a top choice for crypto investors seeking exposure to the burgeoning AI industry. From February 7 to March 10, its price surged from $2.20 to $11.70, driven by its association with the Worldcoin project.

Worldcoin, a digital identity initiative, offers cryptocurrency to users in exchange for contributing their biometric data to create a digital ID. The native token of the project, WLD, has witnessed a meteoric rise in value.

Addition to Coinbase International Exchange's Perpetual Futures Contracts

Coinbase's announcement marks a significant addition to its portfolio of perpetual futures contracts available through its international platform tailored for institutional investors. Perpetual futures, also known as perpetual swaps or perpetuals, are derivative contracts that allow traders to engage in speculation on the future price of an asset without a predefined expiration date.

The regulatory framework surrounding perpetual futures varies depending on the product's composition and the jurisdiction in which it is traded.

Regulatory Considerations and Self-Certification

In conjunction with the upcoming listing of Ordinals and Worldcoin perpetual futures, Coinbase has outlined its plans to utilize the "self-certification" method for launching futures contracts. This approach permits exchanges to offer these products without prior CFTC approval, provided they adhere to the agency's regulatory guidelines.

In recent weeks, Coinbase International Exchange has expanded its offerings of perpetual futures contracts, adding products for Wormhole's native (W) token, Litecoin (LTC), and Dogecoin (DOGE). The exchange has also secured a restricted dealer license in Canada, signaling its commitment to compliance and regulatory adherence.

Conclusion

Coinbase's strategic move to list Ordinals and Worldcoin perpetual futures demonstrates the exchange's responsiveness to the dynamic market demand from institutional investors. The availability of these futures contracts provides opportunities for speculation and risk management, enabling institutions to capitalize on the price fluctuations of these emerging assets.

As the crypto market continues to evolve, Coinbase's commitment to regulatory compliance and innovative product offerings positions it as a leading provider of trading solutions for the institutional investment community.