Coinbase has filed notice registrations with the U.S. Securities and Exchange Commission to pursue single-stock perpetual futures in the United States, expanding its regulated derivatives plans. The filings do not guarantee a launch or establish a timetable, and Coinbase said it plans to work with both the SEC and the Commodity Futures Trading Commission. Coinbase Derivatives submitted Form 1-N, while Coinbase Financial Markets filed Form BD-N to register as a security futures product broker-dealer under Section 15(b)(11) of the Securities Exchange Act of 1934. The proposed contracts would track individual equities without expiration and could support around-the-clock, leveraged exposure, subject to regulatory and margin requirements. Coinbase already offers non-U.S. users 10x stock perpetuals settled in USDC, including contracts linked to Apple, Nvidia and Tesla. The filings come as U.S. regulators and market participants continue debating whether perpetual contracts should be treated as futures or swaps. The CFTC approved Kalshi to offer Bitcoin perpetual futures in May, while CME Group said it would challenge that decision in court. Coinbase has also expanded tokenized stocks, options, equity-index real-world-asset perpetual futures and pre-IPO perpetual contracts outside the United States.