Cryptocurrency exchange Coinbase has submitted an application to the National Futures Association (NFA) to offer futures and derivatives exchanges on its platform.
The exchange says its new offerings are aimed at “further developing the crypto economy.” Coinbase signs up to offer cryptocurrency futures and derivatives transactions Coinbase Global Inc.
(Nasdaq: COIN) announced on Twitter Wednesday that it has applied to the National Futures Association (NFA) to register as a Futures Commission Trader (FCM).
The exchange wrote: This is the next step in expanding our offering and trading of futures and derivatives on our platforms. The exchange added that its goal is “to continue growing the crypto economy.”
The filing shows that the company is registered as Coinbase Financial Markets Inc. Crypto derivatives have become a huge market and most of the major cryptocurrency exchanges offer derivatives trading, including Binance, Okex, FTX, CME Group, and Kraken.
In April, Coinbase announced the acquisition of Skew, a crypto data analytics company specializing in monitoring the derivatives market. Coinbase is currently raising funds by issuing bonds.
The company originally planned to issue senior bonds worth $ 1.5 billion. However, due to high interest rates, he increased the amount to $ 2 billion.
Coinbase has stated that it intends to use the net proceeds from the offering “for general corporate purposes, which may include ongoing investments in product development, as well as potential investments or acquisitions. In other companies, products, or technologies that Coinbase can identify. in the future. “