Kraken and Coinbase Bring Perps Onshore as US Derivatives Markets Shift

Crypto Insight Summary: 1. 3. 5. Kraken and Coinbase each launched perpetual futures products Monday, with Kraken going live on CFTC-regulated crypto contracts via Bitnomial and Coinbase introducing four thematic equity-index perpetuals on US soil. By:• June 15, 2026 CeFi Kraken and Coinbase each launched new perpetual futures products on Monday, marking the broadest single-day expansion of US-regulated derivatives in the crypto era. Kraken activated for eligible US clients through Bitnomial, a crypto derivatives exchange owned by Kraken's parent Payward. As , Payward agreed to pay up to $550 million for the exchange, which over a decade of operations had accumulated the full set of CFTC licenses: exchange, clearinghouse, and brokerage. "Perpetuals, spot, margin and CME-listed futures now sit on one interface, and that changes how US clients build and manage crypto positions." The contracts run on an 8-hour funding cycle, with payments exchanged between longs and shorts at 7:00 p.m., 3:00 a.m., and 11:00 a.m. Kraken’s announcement noted that the format generated more than $60 trillion in global trading volume in 2025, with most of that activity on offshore platforms. Crypto Insight Analysis: Direction: Bullish COIN / Bullish KRAKEN Impact: Minor Impact Horizon: Mid-term (1-8 weeks) Reasoning: US-regulated perps expansion boosts institutional adoption and liquidity for regulated platforms.