Altcoins
Coinbase Expands Derivatives Market with New Altcoin Offerings
Coinbase is expanding its derivatives exchange by introducing futures contracts for popular altcoins, including Shiba Inu, Polkadot, Stellar, AvalancheAND Mesh sweater.
The company disclosed this through a series of filings with the US Commodity Futures Trading Commission (CFTC) on June 28.
Coinbase continues to diversify its financial products
Coinbase claims that these derivatives offerings will help customers manage risk, speculate on price movements, and engage with little initial capital. The company said the move will improve the overall trading experience of its users with a diverse product suite.
The applications indicate that Coinbase has chosen to self-certify under CFTC Rule 40.2(a). This choice expedites the listing process by bypassing direct CFTC approval. If approved, the new products could launch on or after July 15 and increase the company’s financial product offering to 15, including 13 cryptocurrency-related products and three non-cryptocurrency-related products such as gold and crude oil.
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Meanwhile, Coinbase highlighted the unique features of each new offering. Avalanchethe asset with the largest market capitalization among the five, supports custom blockchain networks or subnetworks. This makes it attractive for DeFi projects, digital collectibles and other blockchain-based applications.
The exchange led by Brian Amrstong said it has selected Shiba Inu for its growing importance among memecoinsAccording to the company, the project team is working to expand its utility beyond being “highly speculative and volatile,” focusing on real world applicationsSuch moves, he argued, will contribute to its long-term sustainability and relevance in the cryptocurrency space.
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Coinbase chose Chainlink because it is popular among developers for improvement Smart contract functionality with real-world dataHe said he chose Stellar because its native currency can serve as a bridge for cross-border transactions. Polka dot it was selected because it is unique capable of achieving true interoperability between different blockchains.
“Coinbase Derivatives is excited to drive market accessibility by being the first U.S. futures exchange to offer margined futures contracts for these assets, and we look forward to seeing these derivatives contracts mature into a regulated market,” the company said. added.
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