Coinbase files SEC registrations for single-stock perps

Coinbase wants to make perpetual contracts on individual stocks available in the United States. The company has filed registration documents with the US securities regulator SEC this week, for both its derivatives exchange Coinbase Derivatives and its broker Coinbase Financial Markets. Coinbase says it is working closely with the SEC and the commodities regulator CFTC to bring more financial products to the US market.

In brief:

• Coinbase files SEC registrations for its derivatives exchange and broker to offer single stock perpetuals in the US.
• The company is working with both the SEC and the CFTC to bring more financial products to the US market.
• The submitted forms are dated 1 September 2026.

What are single stock perpetuals?

Single stock perpetuals, also known as single stock perps, are perpetual contracts linked to the price of an individual stock. Unlike traditional futures, these contracts have no expiry date. They have been offered outside the US for some time via crypto and derivatives platforms, but have so far remained unavailable to US users.

Coinbase explains via its official channel that it filed the required registration documents this week. Coinbase Derivatives filed Form 1-N, the form through which a derivatives exchange registers with the regulator. Coinbase Financial Markets filed Form BD-N, its registration as a broker-dealer for securities-related futures products under the Securities Exchange Act of 1934.

Cooperation with SEC and CFTC

Coinbase says it is actively cooperating with both the SEC and the CFTC. The fact that both regulators play a role is not surprising. Single stock perpetuals touch on both the oversight of securities, the domain of the SEC, and the oversight of futures and derivatives, the domain of the CFTC. The CFTC has frequently been involved in matters surrounding crypto perpetuals, showing that regulation in this area is very much in flux.

The filed forms are dated 1 September 2026. Coinbase made the move public via a post on X, in which the company says it wants to bring more major financial products to the US market.

Whether and when the regulators will give the green light is not yet known. For now, the registrations mark the start of a formal process in which Coinbase is