Coinbase has applied to register as a futures intermediary

Bitcoin exchange Coinbase has applied NFA to register as a futures commission merchant (FCM). In the long term, the step will allow the company to obtain a CFTC license.

In the United States, companies wishing to offer derivatives to clients must obtain a CFTC license. To do this, they usually need to be members of the self-regulatory organization NFA, which registers on behalf of the agency.

The timing of the approval of the application of the crypto exchange is unknown. Coinbase Financial Markets is listed as a “pending participant” on the NFA website.

Trending: Whales accumulate more than 21% of the Ethereum

In The Scoop podcast, Coinbase's head of institutional development, Brett Tejpawl, noted that cryptocurrency derivatives, including futures and options, are on the company's roadmap. The bitcoin exchange has already announced its takeover of derivative markets data provider Skew.

Coinbase previously announced a two-priced private bond offering in 2028 and 2031 with an aggregate par value of $ 1.5 billion.

Subsequently, the company increased the volume of placement to $ 2 billion, explaining the decision by high market demand. Proceeds from the proposal will be used for general corporate purposes, including the development of new products.

The post "Coinbase has applied to register as a futures intermediary" appeared first on Blockchain Today.