Coinbase Launches Cryptocurrency Derivatives with Ordinals and Worldcoin Futures

Coinbase, a prominent cryptocurrency exchange, will introduce Ordinals (ORDI) and Worldcoin perpetual futures for institutional clientele starting April 11th. The exchange's support for perpetual futures reflects its focus on diversifying investment options while adhering to regulatory requirements within the crypto derivatives market.

Coinbase Embraces Cryptocurrency Derivatives with Ordinals and Worldcoin Perpetual Futures

New York, New York - April 10, 2024 - Coinbase, a leading cryptocurrency exchange, has announced the forthcoming launch of Ordinals (ORDI) and Worldcoin perpetual futures contracts on its Coinbase International Exchange and Coinbase Advanced platforms. This move comes in response to the growing demand for crypto derivatives among institutional clients.

The introduction of ORDI and WLD perpetual futures marks Coinbase's strategic expansion into derivatives trading, a sector that offers sophisticated investment opportunities for experienced traders. Perpetual futures contracts are agreements between two parties to buy or sell an underlying asset at a specified future date and price, with no fixed expiration date.

Ordinals has experienced a remarkable surge in value since November 2023, rising from $5 to $87, fueled by the growing popularity of Ordinals-related assets. However, it is crucial to emphasize that ORDI is not directly linked to Bitcoin Ordinals or its development team.

Worldcoin has also witnessed significant growth in recent months, climbing from $2.20 to $11.70 between February and March. The token powers the Worldcoin project, a digital identity initiative that uses biometric data to facilitate the creation of a global digital identity system.

Coinbase's recent offering of Wormhole's native token perpetual futures and its plans for Litecoin and Dogecoin futures further demonstrate the exchange's strategy of diversifying its derivatives portfolio. To ensure regulatory compliance, Coinbase employs a "self-certification" process for launching futures contracts.

This latest development underscores Coinbase's unwavering commitment to providing a comprehensive range of investment opportunities while adhering to stringent regulatory standards in the rapidly evolving crypto derivatives market.

About Coinbase

Coinbase is a trusted global cryptocurrency exchange and wallet provider, connecting millions of users with the broader crypto ecosystem. The company offers a wide range of products and services, including buying, selling, and storing cryptocurrencies, as well as staking, earning rewards, and accessing decentralized applications. Coinbase is committed to empowering its users to safely and easily participate in the crypto economy.

Disclaimer

This press release is for informational purposes only and should not be construed as investment advice. Trading cryptocurrencies involves significant risk, and investors should conduct thorough research before making any trading decisions.