DYdX Eyes U.S. Launch with Crypto Spot Trading: Report

Highlights:

• DYdX is planning for U.S. market entry by the end of 2025 with spot trading.
• The platform will cut fees up to 50% across the board.
• U.S. regulators may allow crypto perpetual contracts in the near future.

DYdX, a decentralized exchange, is planning for a major expansion into the US. The firm plans to launch spot trading products in the country before the end of 2025, marking a strategic growth move for the exchange, which has focused primarily on the non-US markets.

DYdX Targets US Market Entry with Spot Trading

Since its inception, DYdX has been focusing on perpetual contracts. These contracts allow traders to speculate without being in possession of crypto assets. Perpetuals do not expire as compared to traditional futures. Although DYdX has become popular globally, it has not yet made an entry into the US because of the regulatory restrictions.

However, the firm’s president, Eddie Zhang, said that the platform will start providing spot crypto trading in the US. The move is in the wake of increasing regulatory openness. Zhang suggested the significance of availability in the US, referencing it as a significant factor in the company’s roadmap.

According to Reuters, decentralized crypto exchange dYdX plans to enter the U.S. market by the end of the year, launching spot trading for Solana and other cryptocurrencies. Its core product—perpetual contracts—will not initially be available. dYdX President Eddie Zhang said the…

— Wu Blockchain (@WuBlockchain) October 30, 2025

The platform plans to list Solana tokens and other tokens to be traded in spot. According to Zhang, the decision to launch in the US is an indication of where the platform wants to head. The move is also well-timed, as it coincides with growing backing by policymakers.

Regulatory Shifts and Fee Strategy

Over the past few months, U.S. regulators have taken an interest in the expansion of crypto trading options. In September, the Securities and Exchange Commission and Commodity Futures Trading Commission issued a joint statement. They confirmed their intention to consider allowing perpetual crypto contracts on regulated exchanges.

Although DYdX cannot yet provide perpetuals in the US, it is paying close attention to these developments. Zhang highlighted the optimism that, soon, it will be possible with the help of guidance to introduce such products to the US market.

Meanwhile, DYdX will focus on competitive pricing to attract users. The platform will reduce trading costs across the board. The charges will be reduced to 50-65 basis points. This price cut aims to make DYdX competitive with centralized exchanges such as Coinbase and Kraken.

DYdX operates as a decentralized exchange, unlike these centralized platforms. It enables customers to trade directly on blockchain networks without any intermediaries. This solution offers transparency and aligns with the decentralized ethos of crypto.

Governance Vote and Token Activity

DYdX is also facing internal governance challenges as it gears up for expansion. During a market crash in early October, the platform experienced an eight-hour outage. In response, the protocol launched a governance vote to compensate impacted users. The proposal includes a compensation of $462,000 from its insurance fund.

⛓️ On-Chain Vote Created ⛓️

Should the community approve compensating impacted Oct 10 incident users from the dYdX Insurance Fund?

Vote ends on Nov 1st 2025, 03:11 UTC*

🔗 https://t.co/9pIT4hNVUo
➡️ https://t.co/MQPvCVPY3A pic.twitter.com/QWT86gNd5y

— dYdX Foundation (@dydxfoundation) October 28, 2025

In addition, token performance is also drawing attention. The native DYDX token fell to $0.30 in the last month, down from $0.60. However, the trading activity is still high despite this decline. Since 2019, DYdX has executed over $1.5 trillion in total trading volume.

Over the last month alone, the exchange recorded more than $8 billion of perpetual contract volume, according to DefiLlama data. Meanwhile, a DYdX ETP was introduced by Swiss asset manager 21Shares in September. The product allows institutional investors to gain access to the DYdX Chain through a physically backed fund.