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 on 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).
“It’s very important for us as a platform to have something available in the United States, because I think that hopefully represents the direction that we’re trying to move in,” Zhang said, according to Reuters.
DYdX specializes in trading perpetual futures, 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 U.S. President Donald Trump to explain the move, adding that he hoped the agencies would provide guidance for perpetual contracts.
The Securities and Exchange Commission and the Commodity Futures Trading Commission announced in September that they would consider offering perpetual contracts to U.S. traders.
Related: DeFi platform dYdX plans Telegram trading in roadmap update as profits decline
Outage Planning Governance Voting
On Monday, the decentralized exchange announced an open vote for users affected by an approximately eight-hour trading disruption during a stock market crash in early October. The governance vote proposed compensating users with a total of $462,000 from the protocol’s insurance fund.
According to data from Nansen, the price of the protocol’s native dYdX token (DYDX) has fallen by approximately 50% over the past 30 days, from $0.60 to $0.30.
Cointelegraph reached out to dYdX for comment but did not receive a response at the time of publication.
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