Coinbase Gains CFTC Approval for Derivatives Clearing with USDC Collateral

Coinbase has received approval from the Commodity Futures Trading Commission (CFTC) to operate as a derivatives clearing organization, expanding its U.S. derivatives infrastructure.

The CFTC registered Coinbase Clearing LLC as a Derivatives Clearing Organization (DCO) on September 28, allowing it to clear fully collateralized futures, options on futures, and swaps.

Coinbase plans to use the stablecoin USDC as native collateral for its clearing operations, supporting settlement around the clock. This structure differs from conventional clearing systems that rely heavily on cash and Treasury assets within established banking and settlement schedules.