Coinbase Gains CFTC Approval for Derivatives Clearing Operations

VERA Brief

AI-generated. Grounded in the article and its cited sources.

Coinbase Clearing has received approval from the Commodity Futures Trading Commission (CFTC) to operate its derivatives clearing services. This allows Coinbase to clear certain derivatives products and take USD Coin as collateral, marking a step in their strategy to control more financial infrastructure.

Key facts

• Coinbase Clearing has received approval from the Commodity Futures Trading Commission (CFTC).
• The approval allows Coinbase Clearing to operate its derivatives clearing services.
• Coinbase Clearing can take USD Coin as collateral and conduct round-the-clock settlement.
• Margined products will continue to be managed through existing partnerships.
• The expansion is a step in Coinbase's strategy to control more of its financial infrastructure.