Coinbase secures CFTC approval to operate as derivatives clearing organization

Coinbase Clearing LLC has received approval from the US Commodity Futures Trading Commission (CFTC) to register as a derivatives clearing organization (DCO). This authorization allows the exchange to manage its own clearing processes for fully collateralized futures, options, and swaps. The new clearinghouse will utilize USDC as collateral and support 24-hour settlement, though leveraged derivatives will continue to rely on third-party clearing services.