Decentralized exchange dYdX is reportedly preparing to enter US markets by the end of 2025, its president Eddie Zhang said.
According to a Reuters report published Thursday, the company plans to enter the United States in the coming months, expanding its offerings to include spot trading on cryptocurrencies, such as Solana (SOL).
âItâs very important for us as a platform to have something available in the United States, because I think it represents, hopefully, the direction weâre trying to move in,â said Zhang, according to Reuters.
DYdX specializes in perpetual futures trading, a type of derivative that allows users to speculate on cryptocurrency prices without owning the underlying asset.
Zhang reportedly cited the increasingly favorable regulatory environment in the country under US President Donald Trump as part of the reason for the move, adding that he hoped agencies would provide guidance for perpetual contracts.
The Securities and Exchange Commission and Commodity Futures Trading Commission announced in September that they would consider bringing perpetual contracts onshore for US traders.
Related: DeFi platform dYdX plans Telegram trading in roadmap update as earnings slide
Planning governance vote over outage
On Monday, the decentralized exchange announced an open vote for users affected by operations pausing for about eight hours during a market crash in early October. The governance vote proposed compensating users with a total of $462,000 from the protocolâs insurance fund.
According to data from Nansen, the price of the protocolâs native token dYdX (DYDX) had fallen by about 50% in the last 30 days, from $0.60 to $0.30.
Cointelegraph reached out to dYdX for comment but had not received a response at the time of publication.
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