Decentralized exchange dYdX plans to enter US market by end of 2025: Reuters
Decentralized derivatives exchange dYdX is planning to enter the U.S. market by year-end, Reuters reported Thursday.
Eddie Zhang, president of dYdX, told Reuters that it is crucial for the exchange to have a platform in the U.S. as the move aligns with the company's broader roadmap for the future.
The platform plans to offer spot cryptocurrency trading in the U.S., and cut trading fees to between 50 and 65 basis points, according to the report.
However, dYdX will not be able to offer its signature product, perpetual futures trading, in the U.S., as it is currently barred by regulations. Zhang told Reuters that he hopes to eventually see guidance from regulators on perpetual product offerings.
The Block has reached out to dYdX for further information.
Last month, the U.S. Securities and Exchange Commission and the Commodity Futures Trading Commission said that they are considering potentially allowing "novel and innovative" products in America, including perpetual contracts.
This regulatory advancement comes under President Donald Trump's broader initiative to support the growth and use of blockchain and crypto, and to make the U.S. a global leader in digital finance.
Meanwhile, dYdX said it has seen over $1.5 trillion in total trading volume since launching in 2019. It has recorded $8 billion in perpetual contract volume in the past 30 days, according to DefiLlama data .
