Coinbase announced it secured a United Kingdom investment services license, allowing the platform to expand its local offering beyond spot trading and into products like equities and derivatives.
On Tuesday, Coinbase said the authorization would enable UK users to trade financial instruments alongside crypto on its platform. Institutional and advanced traders would gain access to perpetual futures tied to crypto, equities and commodities, while retail would be able to access equities.
The company said the approval marks its largest UK product expansion since entering the market and advances its vision of an “everything exchange” that combines crypto and traditional financial assets under a single platform. Coinbase said future rollouts would remain subject to regulatory permissions and UK market rules.
FCA research cited by Coinbase estimates that around 7 million UK adults hold crypto assets. A quarter of UK adults who do not currently own crypto said they’re more likely to participate under clearer regulation.
The authorization also comes ahead of the UK’s new crypto regime, which will begin accepting applications in September before taking effect in October 2027. It will require crypto trading platforms, custodians, stablecoin issuers, staking providers and other intermediaries to obtain FCA authorization.
The FCA did not comment before publication.
UK retail crypto derivatives remain restricted
The differing product offerings reflect FCA rules governing retail access to crypto investment products. In 2021, the Financial Conduct Authority (FCA) banned the sale, marketing and distribution of derivatives and exchange-traded notes (ETNs) referencing certain crypto assets to retail consumers.
Related: Coinbase, Kraken and OKX move to swoop up EU users affected by MiCA restrictions
The FCA has since reopened retail access to certain crypto ETNs, with the change taking effect on Oct. 8, 2025.
As a result, retail consumers can access crypto ETNs only if they are traded on an FCA-approved, UK-based Recognised Investment Exchange, while financial promotion rules and consumer protection requirements apply. However, the FCA said its ban on retail access to crypto derivatives remains in place.
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