Coinbase, one of the largest and most noticeable of the “compliant exchanges,” crypto exchanges in the world, has taken the first steps towards trying to list crypto futures.
Coinbase has been known to be in the good books of regulators in the US and it has not had any confrontations with the likes of the SEC as has been the case with other large crypto exchanges like Binance, BlockFi, and Circle.
Related: FCA bans Binance crypto exchange in the UK
Coinbase was also the first cryptocurrency exchange to go public and become listed on NASDAQ.
The San Francisco-based exchange has filed to register as a futures commission merchant (FCM) and become a member of the National Futures Association (NFA) in the US. If allowed into the NFA, it shall be a step closer to being allowed to become an FCM.
The development is a huge step for Coinbase as it seeks to broaden its offerings to its customers by offering derivatives and futures trading through its platform.
Related: Coinbase Users Can Now Buy Cryptocurrencies Using Their Paypal Accounts
At the moment, it is still unclear whether the exchange has also applied for the Commodity Futures Trading Commission (CFTC) license, which is a necessity to be allowed to list futures in the US.
“We anticipate that this may be a long process to approval but are looking forward to working with the NFA as they review our application. Coinbase is excited to be taking this next step to broaden our crypto offering and further growing the cryptoeconomy,” a spokesman from Coinbase said during an interview with CoinDesk.