Coinbase Secures CFTC Approval for In-House Derivatives Clearing Organization

Coinbase, one of the leading cryptocurrency exchanges in the US, has received approval from the Commodity Futures Trading Commission (CFTC) to launch its own derivatives clearing organization. This move allows Coinbase to bring more regulated derivatives products to market with native USDC collateral and 24/7 settlement.

The registration became effective Monday, permitting the clearinghouse to clear fully collateralized futures, options on futures, and swaps. However, it does not allow for the clearing of leveraged products.

Coinbase's general counsel, Molly Abraham, stated that this approval completes Coinbase's end-to-end derivatives infrastructure, enabling them to bring more regulated derivatives products to market.