Coinbase has received approval from the US Commodity Futures Trading Commission (CFTC) to launch its own derivatives clearing organization, Coinbase Clearing LLC. The registration took effect on Monday and allows the clearing of fully collateralized futures, options on futures, and swaps; clearing of leveraged products is not permitted.

Approval Completes Coinbase's Derivatives Infrastructure

Coinbase stated that the regulator's decision completes its end-to-end derivatives infrastructure and will allow it to bring more regulated products with native USDC collateral and 24/7 settlement to market. The company already controls key business elements: the futures broker Coinbase Financial Markets Inc. and the exchange Coinbase Derivatives LLC, and is moving from the role of a crypto platform to a financial market infrastructure provider.

Product Line Includes Crypto, Commodity, and Index Futures

Through its own derivatives exchange, Coinbase lists US-regulated futures on cryptocurrencies, including Bitcoin and Ether, as well as futures on commodities and stock indices. The company also offers long perpetual-type crypto futures.

Kraken Also Consolidates Derivatives Infrastructure

In May, Kraken's parent company, Payward, completed the acquisition of Bitnomial, gaining a CFTC-regulated exchange, clearing organization, and futures broker.