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Following美国商品期货交易委员会正式批准Coinbase Clearing LLC注册
Coinbase在美国衍生品业务领域取得了重要的监管里程碑。2026年9月28日，美国商品期货交易委员会（CFTC）批准了Coinbase Clearing LLC作为衍生品清算机构的注册申请，允许该公司对全额抵押的期货、期货期权以及互换合约进行清算。
此次批准使Coinbase进一步掌控了其衍生品业务的关键环节。目前，Coinbase已拥有旗下的期货经纪商Coinbase Financial Markets Inc.以及交易所Coinbase Derivatives LLC。随着清算能力的加入，Coinbase得以将其现有的期货佣金商人资质、指定合约市场与自有的清算所整合在同一企业架构内，从而具备在统一体系内挂牌、经纪和清算受监管衍生品的能力。
Coinbase总法律顾问Molly Abraham表示：“今天的CFTC批准标志着Coinbase端到端衍生品基础设施的完善，使我们能够推出更多以原生USDC为抵押品、并提供全天候结算的受监管衍生品产品。”
USDC抵押品与全天候结算机制
Coinbase将Coinbase Clearing定位为首家支持USDC原生的清算所，旨在以USDC作为抵押品支持，并提供7×24小时的结算服务。公司指出，该架构的设计初衷是为了支持更快的产品开发及新型受监管产品的上线。
清算范围限制
Despite the approval, the clearing business is still clearly defined. The registration, which took effect on Monday, allows clearing houses to process fully collateralized futures, futures options and swaps, but does not authorize them to clear leveraged products.
Therefore, margin derivatives and products such as single-share perpetual contracts will continue to be processed through existing third-party clearing partners.
Industry Background
Following Kraken's parent company's acquisition in May of Bitnomial and its CFTC-regulated exchange, clearing house and brokerage businesses, Coinbase became another major player in internalizing the U.S. derivatives infrastructure.
