Coinbase Clearing LLC has been approved by CFTC to support USDC collateralization and 24/7 settlement

Coinbase Clearing LLC has been approved by the US Commodity Futures Trading Commission (CFTC) to register as a Derivatives Clearing Organization (DCO), becoming the first clearing house to use USDC as its native collateral asset. It will support USDC collateral and 24-hour uninterrupted settlement. Coinbase now owns Coinbase Financial Markets, Coinbase Derivatives, and Coinbase Clearing, forming a CFTC regulated derivatives infrastructure that covers brokerage, trading, and clearing processes. Coinbase Clearing will support the direct creation and settlement of fully collateralized contracts, while margin derivatives and perpetual contracts for individual stocks will still be partially supported by existing partners.