Decentralized exchange dYdX is preparing to launch in the United States by the end of 2025, marking a major strategic step for one of the industry’s leading derivatives platforms. The U.S. rollout will initially focus exclusively on spot trading, according to company President Eddie Zhang, as the exchange works within evolving regulatory boundaries.
A Measured U.S. Entry Focused on Compliance
Unlike its international platform, which is known for advanced perpetual contract trading, the U.S. version of dYdX will debut without derivatives. The company’s approach reflects a deliberate effort to align with U.S. regulatory standards while maintaining its decentralized ethos.
“We’re entering the U.S. market carefully and responsibly,” Zhang said. “The focus is on building trust and compliance from day one.”
The exchange will initially support spot trading for major cryptocurrencies, including Solana (SOL), with plans to expand listings as liquidity and user adoption grow.
Competitive Fees to Attract U.S. Traders
To stand out in an already competitive market dominated by centralized exchanges like Coinbase and Kraken, dYdX plans to introduce lower trading fees, reportedly ranging from 50 to 65 basis points for U.S. traders. The move could appeal to active retail users and institutional clients seeking a compliant decentralized alternative with cost-efficient execution.
Regulatory Winds Turning in Favor
The timing of the expansion coincides with what Zhang described as a “more favorable regulatory climate” in the U.S., following recent efforts by federal agencies to clarify digital asset frameworks. dYdX’s U.S. launch will also test how decentralized exchanges can coexist with strict compliance regimes while maintaining transparency and user control.
Derivatives May Come Later
While perpetual contracts, dYdX’s signature product, won’t be available to U.S. users at launch, the company remains optimistic that future regulatory guidance could eventually pave the way for derivatives trading.
“We hope to bring the full dYdX experience to U.S. users once there’s clarity around decentralized derivatives,” Zhang noted.
With this move, dYdX becomes one of the first major DeFi platforms to re-enter the U.S. market after years of regulatory uncertainty, signaling that decentralized finance may be entering a new phase of legitimacy and integration with the American financial system.