Infrastructure provider Fireblocks has expanded its services portfolio through a new partnership with Coinbase, now offering derivatives and trading products to institutional and retail investors outside the United States.

As announced on June 10, the Fireblocks platform now supports trading perpetual futures and spot contracts via Coinbase International Exchange. This service primarily targets institutional investors such as hedge funds, trading firms, and family offices.

Fireblocks claims that the new capabilities will allow for perpetual and spot trading under predefined governance policies and workflows, aimed at mitigating security risks and unauthorized transactions. Perpetual trading involves speculating on future price changes without an expiration date or obligation to own the asset, while spot trading involves the immediate purchase or sale of the asset.

The new features are available only to users in “eligible jurisdictions” outside the U.S. However, Coinbase International, based in Bermuda, does not specify which countries it serves on its website or in its Terms of Service.

Amid the current crypto bull market, Fireblocks is seizing the opportunity to expand its business. The company recently launched a custodian arm in the U.S., targeting institutional demand for digital assets. Initially, this new entity will offer custody for Bitcoin and three stablecoins, with more assets to be added per New York Department of Financial Services (NYDFS) requirements.

The digital asset market is projected to grow as traditional investors and financial institutions enter the space, including through asset tokenization, which enhances market liquidity. Institutions are increasingly interested in diversifying their portfolios with crypto assets, signaling a strong and growing institutional presence in the crypto industry.

Fireblocks has reportedly handled transactions worth over $6 trillion for more than 200 million wallets globally, serving over 30 exchanges and 55 banks in the digital asset sector.