Coinbase has announced that it has received approval from the U.S. Commodity Futures Trading Commission (CFTC) to extend regulated global crypto derivatives market access to U.S. clients. This means that U.S. institutional traders can now access crypto derivatives products previously dominated by offshore platforms through a compliant domestic platform.
US customers can access more derivatives.
According to the company, this approval will allow US institutional investors to participate in major global crypto derivatives markets through regulated channels. Coinbase describes this development as a regulatory step in its US business expansion.
The report noted that products such as perpetual contracts and options have long been restricted in the US market, resulting in a large amount of trading activity concentrated on overseas platforms. Coinbase believes that the new arrangement will make it easier for US customers to access this market.
Deribit options included in institutional services
Coinbase also stated that it has granted institutional clients access to Deribit's global crypto options market. Deribit is one of the world's leading crypto derivatives platforms. The report cites data indicating that the platform currently holds over $31 billion in open Bitcoin options contracts.
This means that Coinbase is not only promoting its derivatives compliance business in the United States, but also integrating mainstream overseas liquidity and products into its institutional service system.
Armstrong stated that US users were excluded.
Following the announcement, Coinbase CEO Brian Armstrong stated that this approval is landmark for the US crypto market. He noted that US users had previously been excluded from approximately 80% of the global crypto market due to restrictions on perpetual contracts and options products.
If the relevant services are successfully implemented, US institutional clients will be able to participate in a wider range of crypto derivatives trading through a compliant platform. For Coinbase, this will also help it expand its institutional business beyond spot trading.
