Coinbase to Launch First Crypto Derivatives for Retail Traders

Coinbase Derivatives Exchange will launch its first crypto derivatives product this month in hopes of attracting more retail traders, Golden Finance reported. Coinbase will launch its first cryptocurrency derivative Nano Bitcoin Futures (BIT) on June 27 on CFTC-regulated futures exchange Coinbase Derivatives (formerly FairX), according to a statement. “The global crypto derivatives market is worth $3 trillion, and additional product development and accessibility will unlock significant growth,” the statement said. Earlier this year, Coinbase acquired FairX to launch crypto derivatives. Following regulatory approval in late 2020, FairX launched its futures trading platform in May 2021. Coinbase said the company is also awaiting regulatory approval for its Futures Commission Merchant (FCM) license to offer clients margin futures contracts. (coindesk)