Coinbase has gained approval to sell cryptocurrency derivatives directly to retail consumers in the US. From a report: Coinbase Financial Markets, a subsidiary of the US’s biggest crypto exchange, has secured approval from the National Futures Association to operate a Futures Commission Merchant and offer access to crypto futures. The offering will launch within weeks, according to a company spokesperson. Coinbase has been working on the derivatives push for some time. It applied for the NFA approval almost two years ago. In early 2022, it bought futures exchange FairX, which was already registered with US regulators. Renamed Coinbase Derivatives Exchange, it currently sends traders to buy futures from third-parties such as brokers. But with the NFA approval, Coinbase will be able to provide these same derivatives to users directly, first via Coinbase’s main app.
