Marex Accepts Bitcoin, Ether as Collateral Ahead of Year-End Deadline

Marex Group, a global derivatives brokerage listed on the Nasdaq, is set to expand its use of digital assets in traditional derivatives trading. The company plans to accept Bitcoin and Ether as initial margin for derivatives trading by the end of this year.

This move comes less than a month after Marex disclosed that it would support USDC, the dollar-pegged stablecoin issued by Circle, as initial margin. In July, Marex executed its first USDC-collateralized trade with Prime Trading LLC and Coinbase provided asset custody, fiat conversion, and trade reporting infrastructure.

The CFTC's no-action letter issued last December allows futures commission merchants to accept non-security digital assets as customer margin for CFTC-regulated derivatives transactions. Marex is pursuing this program under the guidance of the no-action letter.