Coinbase Secures Approval to Launch Bitcoin and Ether Futures Trading for US Customers
Coinbase, a prominent cryptocurrency exchange, has recently received the green light from the National Futures Association (NFA) to extend its services to include investment opportunities in cryptocurrency futures for eligible clients within the United States.
On August 16, Coinbase proudly announced that it had been granted official authorization to function as a Futures Commission Merchant (FCM) platform.
This significant approval empowers Coinbase to take on the role of introducing futures contracts for two major cryptocurrencies: Bitcoin (BTC) and Ether (ETH).
These offerings will be made available through Coinbase's Commodity Futures Trading Commission (CFTC), a regulated derivatives exchange. They will also complement their spot market, ensuring a seamless experience under the oversight of the CFTC and NFA.
Coinbase aims to provide a secure entry point into the crypto industry by obtaining approval for US customers to engage with regulated crypto derivatives, thereby contributing to keeping the US at the forefront of digital innovation.
In its blog, Coinbase stated that regulatory adherence and transparency are vital for instilling confidence in individual customers and institutions.
The company emphasized the necessity of a CFTC-regulated crypto derivatives market to foster significant growth and broader participation in the crypto economy.
"Access to a CFTC-regulated crypto derivatives market is essential to unlocking significant growth and enabling broader participation in the crypto economy."
In its blog post, Coinbase emphasized that the worldwide crypto derivatives market comprises 75% of the total crypto trading volume, asserting that "Margin trading empowers customers with leverage and entry into the crypto
Read more on cryptonews.com
