Coinbase's Base App has switched on perpetual futures powered by Hyperliquid, opening more than 290 markets across crypto, tokenized stocks and commodities with leverage of up to 50x.

Orders are placed inside Base App's own interface, but Hyperliquid handles matching, execution and settlement on its onchain order book. Perps are roughly 75% of all crypto trading volume, and Coinbase Head of Engineering Chintan Turakhia called them "the single most requested feature from our power users." Coinbase has not disclosed fees, contract specs or the full market list.

The launch is also another step in Base App's pivot away from social features: co-founder Jesse Pollak said the team made "the right bet on builders, but obviously the wrong bet on social." Coinbase has been Hyperliquid's official USDC treasury deployer since May.

Access is closed to users in the US, UK and Canada, where leveraged crypto derivatives are restricted, so the biggest retail market stays out for now.

It lands a day after Trump said CFTC Chair Michael Selig is working to bring Hyperliquid into the United States "in a fully compliant fashion," which would open that door.

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