Nasdaq-listed Coinbase (COIN) has won UK regulatory approval to offer stocks and derivatives alongside crypto, expanding its product range in one of its largest international markets.
The new license allows institutional and advanced traders to access perpetual futures contracts on cryptocurrencies, stocks and commodities, Coinbase said in a blog post. Retail customers in the UK will also be able to trade stocks on Coinbase for the first time.
The authorization comes with Coinbase’s e-money license and crypto registration in the UK. The company received cryptoasset registration from the FCA in February last year, allowing it to provide crypto and fiat services in the country.
UK users have access to products that Coinbase has started rolling out overseas. US users already have access to stock and exchange-traded fund trading, while eligible non-US customers can trade USDC-settled perpetual stock futures contracts on large-cap names including Apple, Microsoft and Tesla.
Coinbase also announced plans to offer tokenized shares backed one-for-one by US stocks to eligible non-US users. These products are intended to give investors ownership of the underlying shares, including dividends.