A regulated derivatives trading platform has been acquired by Coinbase. Millions of Coinbase’s retail clients will have easier access to the futures market.
Coinbase, a Nasdaq-listed cryptocurrency exchange, revealed on Wednesday that it has absorbed Fairx, a licenced derivatives trading platform.
The Commodity Futures Trading Commission (CFTC) regulates Fairx as a derivatives exchange or Designated Contract Market (DCM).
“We plan to bring regulated crypto derivatives to market through this acquisition, initially through Fairx’s current partner ecosystem,” Coinbase explained. “We plan to use Fairx’s technology to offer crypto derivatives to all Coinbase customers in the United States over time.”
The company stated:
“We want to make the derivatives market more accessible to Coinbase’s millions of retail clients by providing an easy-to-use user experience.”
The company further added the importance of liquid derivatives:
“Investors looking to efficiently control risk, implement complex trading techniques, and acquire exposure to crypto outside of established spot markets are screaming for these products.”
Fairx’s purchase is subject to usual closing conditions and approvals. The purchase is expected to finalise in the first fiscal quarter, according to Coinbase. Fairx will continue to operate regularly throughout this time.
That’s it for Fairx now. Have a good day, reader
