Coinbase receives CFTC approval for US derivatives clearinghouse

Coinbase has received approval from the U.S. Commodity Futures Trading Commission to operate Coinbase Clearing LLC, a derivatives clearing organization based in the United States. The approval, which became effective on Monday, allows the company to clear fully collateralized futures, options on futures, and swaps. It does not cover clearing for Coinbase’s leveraged products. According to Coinbase, the new clearinghouse completes its derivatives infrastructure and should support more regulated products, including settlement using native USDC collateral and aroundtheclock processing. The company already operates a futures broker and a derivatives exchange, and the move gives it more control over its trading setup. The development also reflects a broader trend among crypto firms bringing more of their derivatives operations inhouse. Kraken’s parent company acquired Bitnomial earlier this year, gaining a CFTCregulated exchange, clearinghouse, and futures brokerage.