The Commodity Futures Trading Commission (CFTC) has granted approval to Coinbase to operate its own derivatives clearing organization, Coinbase Clearing LLC. The registration became effective on Monday, allowing the company to clear fully collateralized futures, options on futures, and swaps.
This development completes the end-to-end derivatives infrastructure for Coinbase. The company now manages its own clearinghouse alongside its existing futures broker, Coinbase Financial Markets Inc., and its exchange, Coinbase Derivatives LLC. The platform intends to utilize native USDC collateral and 24/7 settlement for its offerings.
The new clearinghouse will manage settlement and counterparty risk for derivatives trades. While the company lists regulated futures tied to Bitcoin, Ether, commodities, and equity indices, the current registration does not authorize the clearing of leveraged products.
This move aligns with broader industry trends as crypto firms seek to internalize US derivatives infrastructure. In May, Kraken parent company Payward acquired Bitnomial, which included a CFTC-regulated exchange, clearinghouse, and futures brokerage.
