Coinbase’s derivatives sector has recently approached the Commodity Futures Trading Commission (CFTC) to greenlight a series of novel futures products linked to a quintet of widely-recognized cryptocurrencies.
The official submissions reveal that Coinbase Derivatives plans to unveil futures contracts for a selection of crypto assets, namely Avalanche (AVA), Chainlink (LNK), Polkadot (DOT), Stellar (XLM), and Shiba Inu (SHB). These contracts are slated to be available for trading starting July 15th.
Coinbase has reportedly consulted with futures commission merchants (FCMs) and other market stakeholders, who have expressed their backing for the new contracts.
The exchange has stated, “We have not encountered any significant dissent regarding the Contract. We hereby affirm that the Contract and its associated regulations adhere to the Commodity Exchange Act as well as the rules and regulations derived from it.”
Coinbase Derivatives has announced its position as the pioneering futures exchange in the United States to roll out CFTC-regulated margined futures contracts for the aforementioned crypto assets.
The addition of AVA, LNK, DOT, XLM, and SHB to our offerings provides our clients and their customers with expanded avenues to hedge risks, engage in price speculation, and immerse themselves in the cryptocurrency market while benefiting from lower initial capital requirements.
Furthermore, Coinbase Derivatives has also recently introduced futures contracts for commodities such as oil and gold, responding to a surge in demand for consumer-centric offerings on platforms that are both accessible and compliant with regulations. The dimensions of these new futures contracts are set at 10 barrels of oil and one troy ounce of gold.
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