CFTC approves Coinbase as derivatives clearing organization

The CFTC has approved Coinbase as a derivatives clearing organization, applicable to fully collateralized futures, futures options, and swaps. After approval, Coinbase can liquidate related derivatives on its own without the need for third-party intervention; This approval does not certify any specific market and does not involve predicting the market. Coinbase and Nodal Clear announced in June 2025 that they plan to launch a futures cooperation with USDC as collateral, which is expected to be implemented. The CFTC has not disclosed the underlying asset range and liquidatable swap categories of related derivatives.