Coinbase Derivatives Exchange (formerly FairX) is launching its first crypto derivatives product, Nano Bitcoin futures (BIT), on June 27.
Coinbase said that BIT would initially target several leading broker intermediaries, including retail brokers EdgeClear, Ironbeam, NinjaTrader, Optimus Futures, Stage 5, and Tradovate, and clearing firms ABN AMRO, ADMIS, Advantage Futures, ED&F Man, Ironbeam and Wedbush.
Coinbase is currently awaiting regulatory approval on the futures commission merchant (FCM) license. The FCM license will allow the company to offer margins futures contracts directly to clients.
Coinbase Derivatives Exchange is a CFTC-regulated Designated Contract Markets (DCM) futures exchange.
FairX, which launched its futures exchange platform in May 2021 was acquired by Coinbase earlier in 2022 to launch crypto derivatives products.
Even though the launch of the product comes at a highly volatile period in the crypto market, Coinbase said that the crypto derivatives...
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