Coinbase Clearing Receives CFTC Registration for USDC-Native Derivatives

The CFTC has registered Coinbase Clearing LLC as a derivatives clearing organization, enabling Coinbase to bring clearing functions in-house. The platform is designed as a USDC-native clearinghouse, allowing for 24/7 settlement and margin calls using USDC collateral instead of traditional banking rails. This development follows a CFTC digital-assets pilot program launched in December 2025.