International EDXM and Coinbase Introduce Perpetual Futures Contracts
In the rapidly evolving world of cryptocurrency, two major players, EDXM International and Bitnomial Exchange, are making waves with their innovative offerings.
EDXM International, under the leadership of CEO Tony Acuña-Rohter since last December, launched EDX Markets, a crypto spot marketplace for institutions in the U.S. in June 2023. Fast forward to July 2025, EDXM International expanded its portfolio by launching a perpetual futures exchange in Singapore.
Meanwhile, Bitnomial Exchange, a CFTC-regulated designated contract market (DCM), made history by self-certifying the first perpetual futures contracts ever listed on a U.S. exchange in April 2025. Trading began with the launch of BTC/USD perpetual futures, available initially to institutional participants.
Both exchanges are built with a focus on institutions, aiming to provide the best cost to trade.
EDXM International's offerings stand out with several key features. The exchange's smart collateral management system, a first in the crypto industry, allows market makers to quote across multiple markets in the most capital-efficient manner without increasing risk exposure.
The platform also boasts a high-performance infrastructure, thanks to a proprietary matching engine designed for low-latency trade execution. This results in improved execution speed and pricing quality, often performing as well or better than global Tier 1 exchanges.
EDXM International offers perpetual futures contracts across 44 crypto pairs, including major assets like Bitcoin, Ethereum, Solana, and XRP, catering to diversified institutional portfolios. The exchange's capital efficiency and risk management strategies make it suitable for institutional investors, especially outside US markets.
Bitnomial's perpetual futures are built with eight-hour funding rate intervals, matching the market structure used by offshore venues. The exchange is backed by leading firms such as Citadel Securities, Virtu Financial, and others, lending it substantial market credibility and integration with prime brokerage services.
Coinbase Financial Markets also joined the fray in July 2025, launching perpetual-style futures in the US for retail traders. Traders on Coinbase can access up to 10x intraday leverage, and volumes for these futures have doubled week over week.
As for regulations, EDXM International is keeping a close eye on the U.S. regulatory environment and plans to onboard U.S. institutions as soon as it believes it is safe and sound. The exchange is also excited about provisions in the CLARITY bill that allow broker-dealers to offer crypto and vertically disintegrate some of the incumbents where customers are captive to one exchange.
In the spirit of transparency, it's worth noting that EDXM International holds collateral to be bankruptcy remote and does not do title transfer.
These developments mark a significant step forward in the maturation of the cryptocurrency market, offering institutional investors a more sophisticated and capital-efficient trading environment.
[1] EDXM International. (2023). Press Release: EDXM International Launches EDX Markets, a Crypto Spot Marketplace for Institutions. [2] EDXM International. (2025). Press Release: EDXM International Introduces Perpetual Futures Exchange. [3] Bitnomial Exchange. (2025). Press Release: Bitnomial Exchange Announces Self-Certification of First Perpetual Futures Contracts Ever Listed on a U.S. Exchange. [4] Coinbase. (2025). Press Release: Coinbase Financial Markets Launches Perpetual-Style Futures for U.S. Retail Traders. [5] The Block. (2023). EDXM International Launches Crypto Spot Marketplace for Institutions. [6] The Block. (2025). EDXM International Expands with Perpetual Futures Exchange in Singapore.
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