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DYdX plans to introduce spot trading on solana in U.S

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Platform recently surpassed $1.5 trillion in trading

volume

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U.S. regulators may allow crypto perpetual contracts on

regulated platforms

By Hannah Lang

Oct 30 (Reuters) - One of the top decentralized

cryptocurrency trading platforms, dYdX, is preparing to enter

the U.S. market by the end of the year, in a shift for the

derivatives-focused exchange that was previously not available

to American users, the president of dYdX told Reuters in an

interview.

Unlike centralized exchanges like Coinbase and

Kraken that act as the intermediary between buyers and sellers,

decentralized platforms like dYdX aim to cut out the middleman

and allow users to transact directly on a blockchain network,

which powers cryptocurrencies.

DYdX specializes in perpetual contracts, a type of

derivative that lets traders speculate on the price of an asset

without actually owning it, and unlike traditional futures, does

not have an expiration date. It recently surpassed $1.5 trillion

in total trading volume since its inception, the San

Francisco-based company said.

The platform plans to add to its offerings, bringing spot

trading on solana and other linked cryptocurrencies to the U.S.

by the end of the year, said Eddie Zhang, the president of

dYdX.

"It's very important for us as a platform to have something

available in the United States, because I think it represents,

hopefully, the direction we're trying to move in," Zhang said.

DYdX's move follows President Donald Trump's embrace of the

cryptocurrency sector this year, which has led to the dismissal

of a spate of lawsuits against prominent crypto platforms and a

shift by financial regulators to create specialized rules to

accommodate digital assets.

Upon entering the U.S., dYdX plans to slash its trading fees

by as much as half "across the board," to between 50 and 65

basis points, Zhang said.

Perpetual contracts will not be available in the U.S., but

dYdX hopes U.S. regulators will eventually provide guidance for

decentralized platforms to be able to offer those products,

Zhang said.

In a joint statement last month by the U.S. Securities and

Exchange Commission and the Commodity Futures Trading

Commission, the agencies indicated they would consider allowing

crypto perpetual contracts to trade across regulated platforms

in the U.S.