Coinbase has been approved by the U.S. Commodity Futures Trading Commission to operate as a derivatives clearing organization for fully collateralized futures, options on futures, and swaps. The approval allows the company to clear those products on its own rather than relying on a third party. The CFTC said the decision does not endorse any specific market and does not cover prediction markets in particular. The move could also support the rollout of Coinbase’s planned futures partnership with Nodal Clear, announced in June 2025, which was designed around USDC as collateral. The regulator did not disclose the range of underlying assets tied to the derivatives or specify which categories of swaps would be eligible for clearing.
Coinbase has received approval from the U.S. Commodity Futures Trading Commission (CFTC) to become a derivatives clearing organization for fully collateralized futures, options on futures, and swaps.
With the approval, Coinbase can clear those derivatives itself without involving a third party. The CFTC said the approval does not constitute endorsement of any specific market, and it does not apply to prediction markets.
The decision could help advance Coinbase’s planned futures partnership with Nodal Clear, announced in June 2025, centered on USDC as collateral. The CFTC did not disclose the range of underlying assets for the products or identify which swap categories would be eligible for clearing.
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