Coinbase, the United States-based digital asset exchange, has submitted an application to become a registered Futures Commission Merchant with the National Futures Association.
At the time of reporting, particulars are sparse. However, as per the NFA website the pending application was submitted on 15th September under the name “Coinbase Global Inc.”
Coinbase noted the aforementioned development via Twitter today and mentioned that
“this is the next step to broaden our offerings and offer futures and derivatives trading on our platforms. Goal: Further grow the crypto economy.”
It is to be noted that if the exchange becomes an approved Futures Commission Merchant member under the National Futures Association, the company will then be required to register with the United States derivatives regulator, CFTC, to get the green light.
The crypto exchange is hoping its move to futures and derivatives goes a lot more trouble-free than its plans to offer a USDC lending product, subsequent to the SEC allegedly threatening to sue the exchange if it went through with the launch.
As per a September 15 report from The Economic Times, the exchange also sold two billion dollars worth of junk-bonds this week in an offering that witnessed seven billion dollars worth of orders placed for 7 and 10-year bonds.
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