Coinbase wins CFTC approval for in-house clearinghouse

Coinbase has received approval from the U.S. Commodity Futures Trading Commission for the launch of Coinbase Clearing LLC, its in-house derivatives clearing organization, completing a full-stack infrastructure that allows the company to handle issuance, trading and clearing for derivatives within the CFTC regulatory framework. With the new DCO approval, alongside its existing futures commission merchant and designated contract market licenses, Coinbase said the new clearinghouse will be the first USDC-native platform to support a 24/7 real-time settlement structure. The approval is expected to help Coinbase speed up the launch of new regulated derivatives, including single-stock perpetual futures, and expand its on-chain financial infrastructure.