Coinbase Launches US Derivatives Clearinghouse with CFTC Approval
- Coinbase received approval from the Commodity Futures Trading Commission (CFTC) to establish Coinbase Clearing LLC.
- The registration became effective on Monday, allowing the clearinghouse to manage fully collateralized futures, options on futures, and swaps.
- This approval completes Coinbase’s end-to-end derivatives infrastructure, facilitating regulated derivatives products with native USDC collateral.
- Coinbase also operates a futures broker (Coinbase Financial Markets Inc.) and an exchange (Coinbase Derivatives LLC).
- Other crypto firms like Kraken’s parent company Payward have similarly acquired regulated derivatives infrastructure.
The establishment of Coinbase Clearing LLC enhances its capabilities in the derivatives market by managing settlement and counterparty risk effectively. This move is significant as it positions Coinbase as a key player in providing financial market infrastructure for cryptocurrency trading.
With this new clearinghouse, Coinbase aims to expand its offerings in regulated derivatives products, marking a pivotal step in its business evolution.(Source)
