Coinbase applies to offer trading in crypto derivatives and futures on the exchange

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Coinbase applies to offer trading in crypto derivatives and futures on the exchange
Coinbase SOPA images
  • Coinbase plans to offer crypto futures and derivatives on its exchange.
  • The company said it had filed an application with the National Futures Association.
  • Earlier this week, Coinbase said it was planning to raise $2 billion via a bond sale.

Coinbase, the largest publicly listed crypto exchange, said on Wednesday it plans to expand its product offering to include trading in futures and derivatives.

The company said in a tweet it had submitted an application with the National Futures Association (NFA), a US regulatory body that focuses on derivatives.

Coinbase is joining CME Group, as well as crypto exchanges like Binance, OKEx, FTX and Kraken, in offering derivatives.

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"This is the next step to broaden our offerings and offer futures and derivatives trading on our platforms. Goal: Further grow the crypto economy," Coinbase said in a tweet.

The company, which listed on the US stock exchange in February, has been making strides in growing its business.

Earlier this week, Coinbase said it planned to raise up to $2 billion through a bond sale and would use the proceeds to fund future takeovers, develop new technologies and products.

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The NFA website showed Coinbase Financial Markets had a pending membership application.

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