Coinbase Receives CFTC Approval for In-House Derivatives Clearinghouse
Coinbase has received approval from the US Commodity Futures Trading Commission to operate its own derivatives clearing organization, according to The Defiant and The Block.
The approval completes Coinbase’s derivatives infrastructure, allowing the exchange to list, broker and clear fully collateralized products in-house, according to The Block.
The new clearinghouse, Coinbase Clearing, will accept USDC as collateral and settle around the clock, according to Decrypt. Margined futures and planned single-stock perpetuals will continue to run through outside partners rather than Coinbase’s own clearinghouse, according to The Defiant and Decrypt.
Cointelegraph noted that Coinbase joins Kraken in bringing US derivatives infrastructure in-house. Kraken’s parent company acquired Bitnomial, along with its CFTC-regulated exchange, clearinghouse and brokerage, in May, according to Cointelegraph.
Sources: The Defiant, The Block, Cointelegraph, Decrypt
This article is for information only and is not financial advice.
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