Coinbase, one of the largest cryptocurrency exchanges in the world, continued on its way with listings one after another after the IPO, and the exchange is now preparing to take other steps to gain more volume.
According to the transferred information, the last step of Coinbase was to enter the futures market. Coinbase has applied to the FCM, which is responsible for futures contracts in the US, and has taken steps to have crypto-based futures contracts listed on the exchange.
Coinbase has never stepped into futures trading in the cryptocurrency industry over the years, mostly to protect individual investors. Now, it is seen that futures trading news comes, especially when the stock market is trying to diversify its income sources. This news of Coinbase may activate the market in the long run.
Coinbase has submitted an application to become a registered Futures Commission Merchant (FCM) with the National Futures Association (NFA), allowing the company to trade #crypto futures pic.twitter.com/PDx6UPVnUw
— Token Metrics (@tokenmetricsinc) September 16, 2021
While the leadership in the futures markets of the crypto money industry was known as Bitfinex and BitMEX at first, Binance took the lead in this regard, and now the market may be more active with Coinbase, which will be opened to investors in the USA.
Coinbase also made an official statement on the subject, and the comments below actually point to the exact same thing. The cryptocurrencies that Coinbase will list in the futures market can increase the price directly like Coinbase’s listing.
Today, Coinbase filed an application with the NFA to register as an FCM → Futures Commission Merchant.
This is the next step to broaden our offerings and offer futures and derivatives trading on our platforms.
👉 Goal: Further grow the cryptoeconomy.
— Coinbase (@coinbase) September 15, 2021