Decentralized exchange dYdX is setting its sights on the US market, with plans to launch by the end of 2025. This strategic move comes as the company aims to broaden its trading offerings and capitalize on the evolving regulatory landscape, according to the official information.
dYdX to Introduce Spot Trading for Various Cryptocurrencies
Eddie Zhang, president of dYdX, revealed that the exchange intends to introduce spot trading for various cryptocurrencies, including Solana. This expansion reflects the company's commitment to enhancing its services and attracting a larger user base in the competitive US market.
Significance of Establishing a Presence in the US
Zhang highlighted the significance of establishing a presence in the US, pointing to the favorable regulatory environment that was fostered during President Trump's administration. This environment is seen as a crucial factor in dYdX's decision to enter the market.
Potential for Growth with Regulatory Support
Additionally, the SEC and CFTC have signaled their willingness to consider bringing perpetual contracts onshore for US traders, which could further facilitate dYdX's operations and growth in the region.
In a notable development, Brett Harrison has launched AX, a new regulated exchange focused on perpetual futures, following his departure from FTX US. This move contrasts with dYdX's plans to enter the US market; for more details, see read more.
