Coinbase and Kraken Parent Company File for US Stock-Linked Perpetual Futures

Coinbase and Payward, the parent company of Kraken, have followed Coinbase in submitting applications to the SEC for perpetual futures products linked to individual U.S. stocks. Caisi has submitted a regulatory amendment request to the SEC for perpetual futures based on individual U.S. stocks and also applied for CFTC approval. The product is designed without an expiration date and will link to underlying stock prices through regular fund transfers between long and short positions. Once trading begins, Caisi Clear, Caisi's CFTC-registered clearinghouse, will handle settlements. CoinTelegraph reported that Coinbase submitted a similar application for perpetual futures tied to individual U.S. stocks on the same day.

Payward, through its BitNomial exchange, filed the application and plans to offer these products initially to Kraken users in the U.S., targeting ten major American stocks including Tesla, Nvidia, Apple, Microsoft, and Amazon.