Coinbase Launching 'Nano' Bitcoin Futures via Derivatives Exchange - Aliens: AI Crypto News & Markets Updates
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Coinbase Launching 'Nano' Bitcoin Futures via Derivatives Exchange

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Decrypt

Fri, Jun 24, 2022

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Retail investors will be able to trade crypto futures through Coinbase starting Monday, as the largest exchange in the U.S. by volume will offer them on its new Derivatives Exchange platform.

FairX had been selling futures products and was already registered with the federal Commodity Futures Trading Commission (CFTC), giving Coinbase a running start in the $3 trillion crypto derivatives market.

Now Coinbase has rebranded FairX as the Coinbase Derivatives Exchange, and its "nano Bitcoin futures"—1/100th of a Bitcoin, marketed under the ticker BIT—is its first listed crypto derivatives product.

Boris Ilyevsky, Head of Coinbase Derivatives Exchange, said in a statement that FairX brought in a "world-class team with deep expertise across product development, market structure, compliance, market-leading exchange technology and a proven ability to deliver listed futures." Coupled with Coinbase's consumer-friendly interface, the derivatives exchange aims to make trading of crypto derivatives much more accessible.

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