Coinbase Integrates 50x Leverage Crypto Perps via Hyperliquid on Base App

• Coinbase has integrated perpetual futures trading into its Base App via Hyperliquid.
• Users can access leverage of up to 50x on over 290 perpetual futures markets.
• Perpetual futures are described as the most requested feature by Base App's power users.
• The integration aims to enhance trading capabilities within the Base App ecosystem.
• The feature is not available in several key jurisdictions, including the U.S. and UK.

Coinbase has announced the integration of perpetual futures trading into its Base App, enabling eligible users to trade with leverage of up to 50x through Hyperliquid. This move aims to capture a significant portion of the crypto market, as perpetual futures account for approximately 75% of all crypto trading volume and are a highly sought-after feature among the app's power users.

The integration provides access to over 290 perpetual futures markets, including those for Bitcoin and Ethereum, as well as tokenized stocks and commodities. Perpetual futures are derivatives that allow traders to speculate on price movements without owning the underlying asset, and they do not expire. The use of leverage magnifies potential gains and losses.

Coinbase Head of Engineering Chintan Turakhia emphasized that this feature was the single most requested by active users, providing them with advanced trading tools while maintaining self-custody. Hyperliquid, known for its high-performance on-chain perps protocol, will handle the execution of these trades, allowing users to access deep liquidity and speed without leaving their existing wallet.

However, the perpetual futures product is not available in the U.S., UK, Canada, or other regions that restrict leveraged crypto derivatives. This development aligns with a broader strategic shift for Base App, moving away from its initial focus on social features towards trading, payments, and AI agents. Base creator Jesse Pollak noted that while the bet on builders was correct, the focus on social features did not drive expected adoption, with prediction markets, perpetuals, and stablecoins proving to be stronger drivers.