The CFTC gave Coinbase a green light to offer crypto perpetual futures on Friday, setting the stage for the U.S. exchange to soon begin connecting its customers to the lucrative and highly risky offshore market.

Coinbase is now effectively permitted to offer its customers access to the global crypto perpetual futures market through Deribit, an offshore crypto options exchange Coinbase acquired for $2.9 billion last year. Perpetual futures are derivatives contracts with no expiration date, which allow traders to place highly leveraged bets on the future price of crypto assets with borrowed capital.

A source familiar with the matter told Decrypt that Coinbase has not yet determined which crypto assets it plans to enable for…