Coinbase seeks Futures Trading Approval; It has filed an application for futures trading, adding it will offer cryptocurrency derivatives to investors.
Coinbase Plans To Sell Crypto Futures
The exchange, Coinbase seeks futures trading approval as stated on Twitter today. It has registered with the National Futures Association as a Futures Commission Merchant.
However, The status of the application is currently listed as “pending” on the website.
Brett Tejpaul, head of institutional sales, suggested that the company’s offerings may have “derivatives, futures, options, swaps, [and] structured products.” Also, Tejpaul released the statement during an interview with crypto news site The Block.
However, Several other crypto exchanges already offer similar future trading features, including Binance, FTX, Huobi, Kraken, and BitMEX.
Investors Are Showing Good Interest
As Coinbase seeks Futures Trading Approval, The news comes months after Coinbase’s decision to enter the stock market. This gives traditional investors a way to invest in the company.
It also comes just days after reports that Coinbase’s junk bonds saw great demand as the company sold $2 billion of debt.
However, Coinbase faces potential threat from the U.S. Securities and Exchange Commission.
The regulator threatens suing the exchange over its stablecoin lending service.
Coinbase might be able to negotiate the rules around futures trading more effectively. However, Coinbase is currently the second-largest cryptocurrency exchange by volume, recording $4.4 billion in volume over the past day.