Coinbase Global, the worldwide futures exchange associated with the United States' largest cryptocurrency platform, Coinbase, has officially declared its intention to introduce futures listings for Solana (SOL) and Avalanche (AVAX).

As per the official announcement, provided that liquidity requirements are satisfied, SOL-PERP and AVAX-PERP markets are scheduled to go live at approximately 19:00 on November 14, 2023.

This move follows Coinbase's May announcement of Coinbase International, marking the company's entry into the futures market to fill the void left by the FTX exchange's demise.

Coinbase had previously announced its intention to enable institutional users from eligible countries outside of the United States to engage in perpetual futures trading.

This strategic move is aimed at mitigating Coinbase's dependence on spot trading revenue, which has had an adverse impact on its stock performance due to underwhelming quarterly earnings reports in the past. The exchange recognizes that perpetual futures trading contributes significantly, accounting for as much as 75% of the total global cryptocurrency trading volume.

Furthermore, Coinbase is actively seeking to diversify its risk exposure in response to the uncertainties surrounding regulatory matters.