Coinbase gets CFTC approval for US derivatives clearinghouse
Coinbase received CFTC approval to launch Coinbase Clearing LLC, a US derivatives clearing organization. The registration lets Coinbase clear fully collateralized futures, options on futures, and swaps, but not leveraged products. This completes Coinbase’s in-house derivatives stack alongside its futures broker and exchange, giving it more control over settlement and counterparty risk. Coinbase said the move supports bringing more regulated derivatives products to market with native USDC collateral and 24/7 settlement. The approval also reflects Coinbase’s broader shift from crypto trading platform to financial market infrastructure provider. Other crypto firms, including Kraken’s parent Payward, are also building US derivatives infrastructure in-house.
