Coinbase Wants to Trade Crypto Futures

The top U.S. crypto exchange Coinbase wants to trade crypto futures. Even though it gets approval from the National Futures Association (NFA), it will still need a registration from the Commodity Futures Trading Commission to start.

Coinbase, one of the world's largest cryptocurrency exchanges, has applied to become a registered Futures Commission Merchant (FCM) with the National Futures Association (NFA).

According to the NFA website, the application was submitted on Sept. 15 with the name 'Coinbase Global Inc.' But, it is still in process so, Coinbase didn't give any details regarding the move.

However, Coinbase did clarify the move on its Twitter on Sept. 16, saying,

"Today, Coinbase filed an application with the NFA to register as an FCM Futures Commission Merchant. This is the next step to broaden our offerings and offer futures and derivatives trading on our platforms."

Despite the presence of regulatory FUD, derivatives have exploded in popularity in 2021. The crypto derivatives markets dominate the area of spot markets. But still, Coinbase hopes this move goes more tranquil than its plans to offer a stablecoin (USD coin) lending product after the SEC cautioned to sue the firm if it went through with the launch.