Coinbase Derivatives to adopt USDC as collateral for U.S. futures trading
Coinbase’s futures trading platform is teaming up with regulated derivatives clearinghouse Nodal Clear to add Circle’s stablecoin USDC as collateral for futures trading in the United States.
Coinbase Derivatives, which is regulated by the Commodity Futures Trading Commission (CFTC), announced the partnership with Nodal Clear on June 18.
In a blog post, Coinbase said the collaboration will see its platform officially adopt USDC (USDC) as an eligible collateral for U.S. futures trading. The crypto giant said it plans to roll out the new offering from 2026.
Why is this move by Coinbase important?
Coinbase offers futures trading for both crypto and traditional assets on its derivatives platform. However, clearinghouses currently accept only fiat as collateral for futures trading. The addition of USDC expands those options, opening the market to more participants.
The partnership is part of Coinbase’s multi-year agreement with Nodal Clear and enhances USDC’s status as a cash equivalent.
Notably, Coinbase Derivatives’ plans add to the growth prospects for the U.S. futures market, with industry players eyeing increasing traction amid evolving regulatory approvals.
“Our commitment to integrate USDC as collateral reflects our dedication to enhance trading capabilities for US market participants, improve operational efficiency through almost instant money movement, and ensure secure custody via Coinbase Custody Trust, a Qualified Custodian regulated by the New York Department of Financial Services,” said Boris Ilyevsky, chief executive officer at Coinbase Derivatives.
Paul Cusenza, chairman and CEO of Nodal Clear, added that the integration of USDC is part of being “responsive to market needs and innovating.”
Stablecoin adoption
Coinbase’s announcement comes a day after a landmark regulatory development in the crypto space happened following the U.S. Senate’s vote on the GENIUS Act. Industry experts have hailed the stablecoin bill’s passage as one of the key first steps to bringing much-needed regulatory clarity and support for crypto innovation.
This comes as stablecoins continue to gain massive attention and traction,, with experts seeing trillions of dollars of institutional capital flow into crypto.
In November 2024, CFTC’s Global Markets Advisory Committee recommended the expansion of the use of non-cash collateral in trading through distributed ledger technology.
Circle’s USDC is currently the second-largest U.S.-dollar-backed stablecoin in the market with over $61 billion in market cap. Tether (USDT) is the largest with a market cap of over $155 billion.
