(Reuters) -Coinbase plans to launch perpetual futures trading in the United States, with the offering set to comply with regulatory standards outlined by the Commodity Futures Trading Commission, a top executive at the crypto exchange said on Thursday.

With crypto markets buoyed by hopes of lighter regulation and a renewed risk appetite, exchanges are racing to capitalize on the frenzy by rolling out complex products that were once used primarily by seasoned traders.

“We recently launched first-of-its-kind 24/7 futures trading, and I’m excited to share that we’ll soon be launching CFTC-compliant perpetual futures trading in the U.S. as well,” Max Branzburg, Coinbase’s vice-president of product, said at the State of Crypto Summit in New York.

Perpetual futures are crypto derivatives that allow traders to bet on token prices without an expiry date and offer round-the-clock access and high leverage, making them a popular choice in fast-moving markets.

Investors and traders typically use derivatives to hedge risk, amplify returns, or speculate on price movements without owning the underlying asset.

(Reporting by Manya Saini in Bengaluru; Editing by Mohammed Safi Shamsi)