Coinbase Files to Offer Cryptocurrency Futures and Derivatives Trading

Bitcoin

Cryptocurrency exchange Coinbase has filed an application with the National Futures Association (NFA) to offer futures and derivatives trading on its platform. The exchange says its new offerings aim to “Further grow the cryptoeconomy.”

Coinbase Registers to Offer Crypto Futures and Derivatives Trading

Coinbase Global Inc. (Nasdaq: COIN) announced Wednesday via Twitter that it has filed an application with the National Futures Association (NFA) to register as a Futures Commission Merchant (FCM). The exchange wrote:

This is the next step to broaden our offerings and offer futures and derivatives trading on our platforms.

The exchange added that its goal is to “Further grow the cryptoeconomy.” The filing shows that the company is registered as Coinbase Financial Markets Inc.

Crypto derivatives have become a huge market and most major cryptocurrency exchanges offer derivatives trading, including Binance, Okex, FTX, CME Group, and Kraken.

In April, Coinbase announced that it had acquired Skew, a crypto data analytics firm that specializes in tracking the derivatives market.

Coinbase is currently raising funds by issuing bonds. Initially, the company planned to issue $1.5 billion worth of senior notes. However, due to high interest, it has raised the amount to $2 billion. Coinbase said it intends to use the net proceeds from the offering “for general corporate purposes, which may include continued investments in product development, as well as potential investments in or acquisitions of other companies, products, or technologies that Coinbase may identify in the future.”

What do you think about Coinbase offering derivatives trading? Let us know in the comments section below.

Tags in this story

Image Credits: Shutterstock, Pixabay, Wiki Commons

Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.

Read disclaimer

Products You May Like

Articles You May Like

Historic opioid settlement not expected to move muni market
In Time For Autumn, Frameless Fireplaces Crackle With Style
Investment in space companies exceeds $10 billion this year, a new annual record
Weekly mortgage demand stalls, as rates jump to highest level since June
US Inflation Expectations Highest Since 2013, Gas Prices Skyrocket, Supply Chains Buckle

Leave a Reply

Your email address will not be published. Required fields are marked *