Coinbase Moves to Offer Futures and Derivates Trading
Following an announcement made on Twitter this Wednesday, Coinbase cannot wait to broaden its offerings and develop the overall crypto-economy. The crypto exchange wants to bring futures and derivatives trading on its platform by registering as an FCM. By doing so trading in futures or options for payment of money or other assets from clients can be done. The Nasdaq listed exchange has filed their application with the National Futures Association (NFA).
With the status still pending, once approved, Coinbase will then need to register with the Commodity Futures Trading Commission (CFTC) and finally get approval from the Securities and Exchanges Commission (SEC).
Today, Coinbase filed an application with the NFA to register as an FCM → Futures Commission Merchant.
This is the next step to broaden our offerings and offer futures and derivatives trading on our platforms.
Goal: Further grow the cryptoeconomy.
— Coinbase (@coinbase) September 15, 2021
Crypto derivatives account for almost all the action on trading platforms and basically dwarf the crypto spot market. In a 24-hour time period, crypto derivative platforms process on average over $100 billion in trading volume.
Just last week, the SEC revealed it could possibly go after Coinbase over its Lend program, which promises 4% annual interest to users who deposit the USDC stablecoin on the exchange.
The post Coinbase Moves to Offer Futures and Derivates Trading appeared first on iGaming.
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Author: Peter Siu