The CFTC has authorized Coinbase Clearing LLC to operate as a clearinghouse for derivatives in the United States, completing the group’s full regulatory infrastructure. Coinbase now holds all three required licenses — DCM, FCM and clearing — to create, distribute and clear certain derivative contracts internally. This authorization is limited to fully collateralized contracts, excluding leveraged products and perpetual futures on individual stocks, which will continue to be handled by specialized partners. Coinbase is presenting its clearinghouse as the first designed around the USDC stablecoin, enabling 24/7 settlement.
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