Coinbase Gains CFTC Approval for US Derivatives Clearinghouse

Coinbase has secured approval from the Commodity Futures Trading Commission (CFTC) to operate its own derivatives clearinghouse in the US. This move allows Coinbase to clear fully collateralized futures, options on futures, and swaps, excluding leveraged products. The new authorization completes Coinbase's end-to-end derivatives infrastructure.

The registration covers fully collateralized futures, options on futures, and swaps, but does not allow the clearinghouse to process Coinbase's leveraged products. This approval adds clearing to Coinbase's existing derivatives operations, which already include futures brokerage through Coinbase Financial Markets Inc. and trading via Coinbase Derivatives LLC.

Molly Abraham, Coinbase's general counsel, said that the approval completes the company's end-to-end derivatives infrastructure and supports the launch of more regulated derivatives products using native USDC collateral and 24/7 settlement.