Coinbase is launching round-the-clock futures contracts for Solana (SOL), XRP, and Cardano (ADA) on June 13. This move follows the exchange’s expansion of its 24/7 trading to include Bitcoin and Ethereum futures contracts.
Key Highlights
- Target Audience: The new contracts will be available for US traders seeking compliant access to altcoin derivatives amid an evolving regulatory landscape.
- Industry Impact: Andy Sears, CEO of Coinbase Financial Markets, stated that “the arrival of 24/7 CFTC-regulated markets is a game-changer for the industry.”
- Benefits of Round-the-Clock Trading:
- More opportunities for customers to execute their strategies.
- Enhanced risk management and responsiveness to market movements.
Expansion Plans
Coinbase revealed plans in an official blog post to expand 24/7 trading access beyond BTC and ETH futures contracts, starting with SOL and XRP in the coming weeks. This development marks a significant step forward in providing US traders with compliant access to altcoin derivatives.
Background
Coinbase has been expanding its offerings since it launched regulated crypto derivatives last year. The company has also filed with regulators for permission to list additional assets as part of its broader ambitions in financial markets.
Recent Developments
- In March, Coinbase announced it received approval from U.S. regulators for a new type of cryptocurrency derivative called perpetual swaps. This allows users without leverage or margin accounts to trade perpetual swaps directly through the mobile app or web platform at any time during market hours.
- The company has also expanded into lending services, allowing users to lend out their coins while earning interest. Unlike Binance, which only allowed borrowing against one’s own holdings, Coinbase permits borrowing against other people’s holdings as well.
Conclusion
While it remains unclear how much revenue these services will generate, they provide investors with another way to gain exposure to the market without having full control over all aspects, such as buying or selling individual assets.
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