🔈🔈 COINBASE COMPLETES ITS U.S. DERIVATIVES INFRASTRUCTURE 💥 Coinbase has received CFTC approval for Coinbase Clearing LLC to operate as a Derivatives Clearing Organization (DCO), completing another key piece of its regulated derivatives infrastructure in the U.S. ✔️ USDC as collateral: Coinbase Clearing is positioned as a USDC-native clearinghouse, with support for 24/7 settlement. ✔️ Clearing permission: The approval covers fully collateralized futures, options on futures, and swaps. ✔️ Full-stack derivatives: Coinbase now holds licenses covering DCM for operating a derivatives marketplace, FCM for brokerage services, and DCO for clearing. 🔴 The new approval does not cover margined or leveraged derivatives. Coinbase will continue using external clearing partners for those products. 📌 The DCO approval allows Coinbase to bring more of the regulated derivatives clearing process in-house and further expand its on-chain financial infrastructure.