- Coinbase’s institutional client-facing arm has announced that it will list perpetual futures contracts for ORDI and Worldcoin as soon as April 11.
Institutional clients on the Coinbase International Exchange will soon have access to BRC-20 token Ordinals (ORDI) and Worldcoin (WLD) perpetual futures.
@CoinbaseIntExch will add support for Ordinals and Worldcoin perpetual futures on Coinbase International Exchange and Coinbase Advanced. The opening of our ORDI-PERP and WLD-PERP markets will begin on or after 9:30am UTC on 11 APR 2024. pic.twitter.com/GYHPBTGBJG
— Coinbase International Exchange 🛡️ (@CoinbaseIntExch) April 4, 2024
In an April 5 post to X, Coinbase International Exchange announced it would list perpetual futures products for ORDI and WLD as soon as April 11, making them available to institutional investors on both Coinbase International and Coinbase Advanced.
ORDI soared 1,640% from a price of $5 on Nov. 1, 2023, to a high of $87 on March 5 as a frenzy for Ordinals-related assets took off late last year.
The ORDI token is not officially affiliated with the Bitcoin Ordinals deployer or any of the Ordinals team. It is a separate BRC-20 token that merely derives its namesake from the Ordinals protocol.
Meanwhile, Worldcoin rapidly became one of the top tokens for crypto investors looking to gain exposure to the AI industry, surging from a price of $2.20 on Feb. 7 to as high as $11.70 on March 10, per Coinstats data.
WLD is the native token of Worldcoin, a digital identity project that offers cryptocurrency in exchange for users minting their biometric data for a digital ID.
See Also: Coinbase Partners With Lightspark For Bitcoin Lightning Network Integration
Friday’s announcement adds to a slew of new perpetual futures contracts being added to the international arm of the Coinbase institutional-targeted exchange.
Perpetual futures, also known as perpetual swaps or perpetuals, are a type of derivative contract that allows traders to speculate on the future price of an asset without an expiration date.
The regulatory approval process for perpetual futures depends on the product being offered.
On April 4, Coinbase International Exchange added futures contracts for Wormhole’s native W (W) token, which was launched alongside an $850-million airdrop to early users of the cross-chain bridge.
Meanwhile, on March 21, Coinbase also quietly made plans to list futures contracts for Litecoin (LTC) as well as the meme coin Dogecoin (DOGE), saying that it had “transcended its origins” as an online joke and had established itself as a legitimate digital asset.
Notably, Coinbase explained that it would invoke the “self-certification” method to launch the futures contracts before receiving any official approval from the Commodity Futures Trading Commission — so long as they followed the regulatory guidelines laid out by the agency.
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