Cryptocurrency exchange Coinbase has announced that it has launched 24/7 Bitcoin and Ethereum futures trading, becoming the first regulated platform in the United States.
This service, which will be run by Coinbase Derivatives, will allow both individual and institutional investors to trade at any time of the day, including weekends.
Coinbase Derivatives, Coinbase’s derivatives arm regulated by the U.S. Commodity Futures Trading Commission (CFTC), will provide traders with continuous trading while providing instant response to market movements and unexpected developments. All trades will be cleared through Nodal Clear, which is also regulated by the CFTC.
“We have been working on this service with the CFTC for a long time, and it is finally time to make this vision a reality,” said Boris Ilyevsky, CEO of Coinbase Derivatives.
The platform also plans to offer perpetual futures contracts in the US markets in the coming period. Institutions supporting the new trading model include Virtu Financial, ABN AMRO, Wedbush Securities and Coinbase Financial Markets.
Coinbase announced its 24/7 futures service in March. “The arrival of a CFTC-approved 24/7 market service is a milestone for the industry,” said Andy Sears, CEO of Coinbase Financial Markets.
This development comes on the heels of Coinbase announcing its $2.9 billion acquisition of Deribit, with which the company aims to further expand its derivatives product offering.
*This is not investment advice.
