Coinbase Expands Derivatives: Launches EURC Perpetuals, Adds SOL & HBAR Futures
Coinbase, a leading cryptocurrency exchange, has expanded its derivatives offerings. The company launched EURC perpetual futures on its International Exchange, providing leveraged exposure to the Euro outside traditional FX markets. This move follows Coinbase's regulatory clearance from the National Futures Association (NFA) to operate as a Futures Commission Merchant (FCM) in August 2023.
Coinbase's latest launch includes futures contracts for Solana (SOL) and Hedera (HBAR) on its U.S. derivatives market, regulated by the U.S. Commodity Futures Trading Commission (CFTC). Traders can now choose from a total of 19 futures contracts, including major assets like Bitcoin (BTC) and Ether (ETH). The new contracts offer variety: Standard Solana Futures with 100 SOL per contract, nano Solana Futures with 5 SOL per contract, and Hedera Futures with 5,000 HBAR per contract.
The regulatory approval from the NFA was granted in August 2023, following a pending application since 2021. Coinbase Financial Markets, Inc. received the clearance to operate as a Futures Commission Merchant. However, the Securities and Exchange Commission (SEC) recently requested a 28-day pause to review Coinbase's appeal.
Coinbase's expansion into EURC perpetual futures and new crypto futures contracts demonstrates the company's commitment to diversifying its offerings. Despite the SEC's review pause, Coinbase continues to grow its derivatives portfolio, now totaling 19 contracts. This growth signals increased opportunities for traders and further integration of cryptocurrencies into traditional financial markets.
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