Coinbase acquired the FairX derivatives exchange. The deal will enable the company to trade crypto derivatives in the United States.
Cryptoexchange Coinbase is awaiting approval of the application to join the National Futures Organization since September. The FairX purchase should bring the company closer to its cherished goal.
Few exchanges now allow their investors to trade futures using bitcoin and ether. Coinbase intends to take its place among them. A similar deal was made by FTX.US in August 2021 with the purchase of LedgerX.
“The US derivatives market is critical to us. It will allow millions of our clients to participate in the cryptoeconomics and develop. Both retail and institutional, ”says the Coinbase blog.
The company plans to bring regulated crypto derivatives to the market and make them more accessible to retail customers. Coinbase believes FairX is the best choice for these purposes: the platform has a strong team of specialists with deep knowledge of crypto product development and market structure.
FairX is a young futures company that was licensed at the end of 2020 and entered the market in May 2021. Her partners are large brokerage companies like Virtu Financial, ABN AMRO and TD Ameritrade.
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