Coinbase Clears Path for Direct Derivatives Trading in US
Coinbase has secured approval from the Commodity Futures Trading Commission (CFTC) to register Coinbase Clearing LLC as a derivatives clearing organization. This marks the completion of Coinbase's regulated derivatives structure, alongside its existing futures commission merchant and designated contract market.
The new entity is authorized to clear fully collateralized futures, futures options, and swaps, using USDC as collateral and supporting settlement around the clock. This direct clearing capacity will enable Coinbase to build and clear contracts for itself, expanding its derivatives offerings in the U.S.
Coinbase has clarified that margin-based derivatives remain outside of this approval, with the company continuing to use external partners for these products. The new clearinghouse will support existing products and provide infrastructure for future regulated offerings.