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Historic Milestone for Cryptocurrencies: Coinbase Made the Expected Announcement!
Crypto exchange Coinbase announced that it has launched 24/7 Bitcoin and Ethereum futures trading as the first platform subject to regulation in the USA.
This service, to be conducted by Coinbase Derivatives, will provide both individual and institutional investors with the opportunity to trade at any hour of the day, including weekends.
Coinbase Derivatives, which is the derivatives products division regulated by the U.S. Commodity Futures Trading Commission (CFTC), offers investors continuous trading opportunities while providing the chance to respond instantly to market movements and unexpected developments. All transactions will be cleared through Nodal Clear, which is also subject to CFTC regulation.
Coinbase Derivatives CEO Boris Ilyevsky stated in a related announcement, "We have been working with the CFTC on this service for a long time, and it is finally time to turn this vision into reality."
The platform plans to offer perpetual futures contracts in the US markets in the upcoming period. Institutions supporting the new trading model include Virtu Financial, ABN AMRO, Wedbush Securities, and Coinbase Financial Markets.
Coinbase announced its 24/7 futures trading service in March. Coinbase Financial Markets CEO Andy Sears stated, "The arrival of CFTC-approved 24/7 market services is a turning point for the industry."
This development came immediately after Coinbase announced its $2.9 billion acquisition of Deribit. The company aims to further expand its range of derivative products with this acquisition.