CFTC approves Coinbase Clearing to launch, supporting USDC collateral and round-the-clock settlement

The cryptocurrency trading platform Coinbase's subsidiary Coinbase Markets announced that the U.S. Commodity Futures Trading Commission (CFTC) has approved the launch of Coinbase Clearing LLC, which is Coinbase's own clearinghouse with USDC as its native collateral asset.

Coinbase Markets stated that Coinbase Clearing is designed for round-the-clock settlement and supports USDC as collateral. The launch of this clearinghouse completes Coinbase's comprehensive layout of its regulated derivatives infrastructure.