Coinbase Adds New Perpetual Futures on Its International Exchange

The number one publicly traded cryptocurrency exchange announced it is adding a new altcoin to its futures platform.

Coinbase has announced the addition of Raydium (RAY) perpetual futures on its Coinbase International Exchange and Coinbase Advanced platforms, set to launch on or after 9:30 am UTC on November 14, 2024.

The new RAY-PERP market will provide users with the opportunity to trade Raydium’s innovative financial products on one of the leading global exchanges.

Raydium, an automated market maker (AMM) built on the Solana blockchain, offers a central limit order book that enables faster and more cost-effective transactions compared to Ethereum-based alternatives.

Known for its shared liquidity and advanced features for earning yield, Raydium provides seamless integration with Solana’s ecosystem, allowing users to access a broad pool of liquidity while benefiting from enhanced speed and reduced fees.

Unlike traditional AMMs and decentralized exchanges (DEXs), Raydium’s unique on-chain liquidity model strengthens its position within the decentralized finance space.