Coinbase Files to Offer Cryptocurrency Futures and Derivatives – Bitcoin Exchanges News

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Cryptocurrency exchange Coinbase has applied to the National Futures Association (NFA) to offer futures and derivatives trading on its platform. The exchange says its new offerings are aimed at “further developing the crypto-economy.”

Coinbase signs up to offer crypto futures and derivatives trading

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

This is the next step in expanding our offerings and offering futures and derivatives trading on our platforms.

The exchange added that its goal is to “further develop the crypto-economy.” The record shows that the company is registered as Coinbase Financial Markets Inc.

Crypto derivatives have become a huge market and most of the 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 analysis company specializing in monitoring the derivatives market.

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

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

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