Coinbase Filed An Application To Allow Users Trade In Futures & Derivatives

SYNOPSIS

  • On its exchange, Coinbase wants to provide crypto futures and derivatives.
  • The National Futures Association had received an application from the company, according to the company.
  • Coinbase said earlier this week that it would be selling bonds to raise $2 billion.

Coinbase, the world’s largest publicly traded cryptocurrency exchange, announced on Wednesday that it intends to expand its product offering to include futures and derivatives trading.

In a tweet, the company stated it has applied to the National Futures Association (NFA), a US regulatory group that oversees derivatives.

Coinbase will provide derivatives with CME Group and crypto exchanges such as Binance, OKEx, FTX, and Kraken.

“This is the next step to broaden our offerings and offer futures and derivatives trading on our platforms. Goal: Further grow the crypto economy,” In a tweet, Coinbase stated.

The company, which went public on the New York Stock Exchange in February, has made significant progress in expanding its operations.

Coinbase announced earlier this week that it will sell bonds to raise up to $2 billion, which it would use to fund future acquisitions and create new technologies and businesses.

Coinbase Financial Markets had a pending membership application on the NFA website.

For mmore interesting and informative Twitter Talks and News, stay connected.