DYDX is expected to enter the US market by the end of 2025

DYDX's New Plan in the US

Decentralized derivatives exchange dYdX is preparing to break into the U.S. market by the end of 2025, launching spot trading for major cryptocurrencies including Solana, Ethereum, and Bitcoin, as confirmed by President Antonio García Martínez in an interview with Reuters.

This expansion — reducing fees to 50-65 basis points and capitalizing on regulatory clarity expected under the Trump administration — marks a turning point for DeFi, connecting on-chain liquidity with U.S.-compliant access amid a $2.5 trillion ecosystem with $70 billion in ETF inflows.

The dYdX U.S. launch, slated for Q4 2025, prioritizes spot trading on the Cosmos chain, initially supporting SOL, ETH, BTC, and certain altcoins—skipping perpetual futures until CFTC approval.

Trading fees are reduced to 50-65 basis points across the system—half the current overseas fees—to attract retail and institutional investors in the US, narrowing the gap with major exchanges like Coinbase.

Martínez emphasized the timing: “The regulatory momentum under President Trump and the new SEC/CFTC leadership creates ideal conditions for compliant DeFi entry.”

The platform, which already processes $8 billion in perpetual contracts monthly, aims to reach $1 billion in U.S. spot trading volume within a quarter, leveraging Solana’s 20% outperformance and its $140 billion DEX.

Risks and challenges

Despite the optimism, the road ahead remains challenging. The US regulatory environment remains uncertain, particularly for derivatives such as perpetual futures. Market entry also requires full compliance with money transmission regulations, KYC/AML standards, and reporting obligations at the federal and state levels – which could conflict with dYdX’s DAO-based operating structure.

Furthermore, launching with only spot trading could limit initial user engagement and revenue potential, especially as global traders associate dYdX with leverage and high-volume perpetual futures. The liquidity fragmentation between its global platform and the new U.S. entity could also pose a challenge in the short term.

Evaluation and Conclusion

The upcoming launch in the United States marks a turning point—not just for dYdX, but for the development of decentralized finance. By entering the most heavily regulated market on the planet, dYdX is making a statement: DeFi is ready to comply, not avoid, regulation. If this experiment is successful, it could open the floodgates for other decentralized protocols, driving the convergence of Web3 innovation and traditional financial infrastructure.

Disclaimer: The information presented in this article is the author's personal opinion in the cryptocurrency field. It is not intended to be financial or investment advice. Any investment decision should be based on careful consideration of your personal portfolio and risk tolerance. The views expressed in this article do not represent the official position of the platform. We recommend that readers conduct their own research and consult with a professional before making any investment decisions.