Decentralized cryptocurrency exchange dYdX plans to enter the US market within the year.
According to Reuters, dYdX said it plans to enter the US market by the end of 2025 and launch spot trading products.
dYdX CEO Eddie Zhang said the exchange's entry into the US market and having a platform aligns with the company's broader roadmap for the future and is crucial to the roadmap.
“We plan to launch spot trading services in the US by the end of this year, including major cryptocurrencies like Solana (SOL).
The US market is a significant turning point in the direction we need to go.”
dYdX stated that they will also reduce their fees upon entering the US market.
“At the service launch in the US, we plan to reduce transaction fees by up to half from current levels to around 0.5-0.65%,” CEO Zhang said.
However, the company added that it cannot currently offer perpetual futures trading, its signature product, in the U.S. due to current regulations. dYdX CEO Zhang added that they expect to see positive action from regulators regarding perpetual product offerings in the future and to launch futures trading as well.
Since its launch in 2019, dYdX has seen over $1.5 trillion in total trading volume. According to DefiLlama data, it has recorded $8 billion in recurring contract volume in the last 30 days.
*This is not investment advice.
