Coinbase Gets CFTC Greenlight for US Derivatives Clearinghouse

Coinbase has received approval from the Commodity Futures Trading Commission (CFTC) to launch its own US-based derivatives clearing organization, Coinbase Clearing LLC. This move marks another step in Coinbase's expansion beyond a crypto trading platform into a provider of financial market infrastructure.

The registration became effective on Monday and allows the clearinghouse to clear fully collateralized futures, options on futures, and swaps. However, it does not permit the clearinghouse to clear its leveraged products.

Coinbase's general counsel, Molly Abraham, said that the approval 'completes Coinbase's end-to-end derivatives infrastructure.' This means that Coinbase can now offer regulated derivatives products with native USDC collateral and 24/7 settlement.