Coinbase Taps ION for Event Contract Clearing

ION and Coinbase have partnered to support Kalshi's event contracts through ION's XTP platform. The collaboration enables Coinbase to efficiently process and execute event contracts in real-time, with minimal disruption to its existing operations.

XTP's Event Contracts feature provides a fully automated, real-time platform for creating, resolving, and settling event-based contracts. This allows Coinbase to onboard tens of thousands of accounts per day, and process trades 24/7.

Toni Gemayel, Head of Prediction Markets at Coinbase, said: 'Partnering with ION provides the operational infrastructure needed to support our expanding event contracts business.'

The partnership has been successful in its initial rollout, with XTP processing over one million trades on Super Bowl weekend. This achievement demonstrates XTP's ability to handle high-volume activity and scale as the volume grows.