Leading American crypto exchange Coinbase has applied to the Futures Commission Merchant (FCM) for registration with the National Futures Association (NFA). The details are modest, but according to the NFA website, the request was pending filed September 15, entitled “Coinbase Global Inc.”
Coinbase picked up the move via twitter on September 16th. Stated that “This is the next step to broaden our offerings and offer futures and derivatives trading on our platforms. Goal: Further grow the cryptoeconomy.“
If the exchange becomes an approved member of the FCM under the NFA, the company will then have to register with the US derivatives regulator, the Commodity Futures Trading Commission, to get the green light.
Cryptoderivative markets exceed the size of spot markets and despite the number of FUD regulatory derivatives, they rose in popularity in 2021. According to CoinGecko, the market has processed the market in the last 24 hours more than $ 143 billion. Binance, FTX and Bybit are currently leading the way in 24-hour open interest (OI). This top 3 has an OI of $ 10.1 billion, $ 6.8 billion and $ 3.8 billion.
Company Coinbase will hope that its transition to futures and derivatives will be much smoother than USDC lending products.