Coinbase has received approval from the Commodity Futures Trading Commission (CFTC) to launch Coinbase Clearing LLC, its own US-based derivatives clearing organization. The registration, which became effective Monday, permits the clearinghouse to clear fully collateralized futures, options on futures and swaps, but does not allow it to clear leveraged products. This approval completes Coinbase’s end-to-end derivatives infrastructure and enables native USDC collateral with 24/7 settlement. Coinbase strengthens its position as a financial market infrastructure provider, alongside its existing futures broker Coinbase Financial Markets Inc. and exchange Coinbase Derivatives LLC. Kraken’s parent company also brought US derivatives infrastructure in-house by acquiring Bitnomial and its CFTC-regulated exchange, clearinghouse and brokerage in May.
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