Coinbase Launches Crypto Derivatives Product 'Designed with the Retailer in Mind'
Modified Date:- Published Date:-Categories: Cryptocurrency
On Monday (June 27), the Coinbase derivatives exchange, which is “a CFTC regulated designated contract market (DCM) futures exchange”, is launching NanoBitcoin Futures (BIT), its first crypto derivative product and one called “Retail with was made" merchant in mind. , As you may already know, on January 12, Coinbase announced that it was “acquiring FairX, aCFTC-regulated derivatives exchange”, that this acquisition was “a key stepping stone on Coinbase’s path to offer crypto derivatives to retail and institutional customers in the US,” and that this acquisition was “expected to close in Coinbase’s first fiscal quarter.” Then, last Friday (June 24), Coinbase published a blog post, in which Boris Ilyevsky, Head of Coinbase Derivatives Exchange, announced that BIT future would be launching on June 27. He then mentioned that once Coinbase receives regulatory approval on its own futures commission merchant (FCM) license, it would be able to provide “margined futures contracts” directly to its clients. According to this product’s fact sheet, the Coinbase Nano Bitcoin Future is “a monthly cash-settled futures contract that allows participants to manage risk, trade on margin, or speculate on the price of Bitcoin.”