Coinbase Files to Offer Cryptocurrency Futures and Derivatives Trading – Exchanges Bitcoin News
Cryptocurrency exchange Coinbase has filed an software with the National Futures Association (NFA) to supply futures and derivatives buying and selling on its platform. The exchange says its new choices intention to “Further grow the cryptoeconomy.”
Coinbase Registers to Offer Crypto Futures and Derivatives Trading
Coinbase Global Inc. (Nasdaq: COIN) introduced Wednesday through Twitter that it has filed an software with the National Futures Association (NFA) to register as a Futures Commission Merchant (FCM). The exchange wrote:
This is the subsequent step to broaden our choices and provide futures and derivatives buying and selling on our platforms.
The exchange added that its purpose is to “Further grow the cryptoeconomy.” The submitting exhibits that the corporate is registered as Coinbase Financial Markets Inc.
Crypto derivatives have turn out to be an enormous market and most main cryptocurrency exchanges provide derivatives buying and selling, together with Binance, Okex, FTX, CME Group, and Kraken.
In April, Coinbase introduced that it had acquired Skew, a crypto information analytics agency that focuses on monitoring the derivatives market.
Coinbase is presently elevating funds by issuing bonds. Initially, the corporate deliberate to concern $1.5 billion price of senior notes. However, as a result of excessive curiosity, it has raised the quantity to $2 billion. Coinbase mentioned it intends to make use of the online proceeds from the providing “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.”
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