On April 21, Coinbase announced the listing of futures contracts for XRP on its US derivatives trading platform. This is a new step in the exchange's effort to expand its cryptocurrency derivatives products.
According to Coinbase, the new contracts are supervised by the Commodity Futures Trading Commission (CFTC), providing investors with "an effective capital approach and regulatory compliance to access one of the most liquid digital assets".
Coinbase offers two types of XRP futures contracts:
This is the latest futures contract added to Coinbase's derivatives platform, following the deployment of Solana (SOL) and Hedera (HBAR) futures contracts in February this year.
Since 2024, US exchanges like Coinbase, Robinhood, and the Chicago Mercantile Exchange (CME) have actively expanded their cryptocurrency derivatives portfolio to meet the growing demand from both individual and institutional investors.
Futures contracts are standardized agreements to buy or sell an underlying asset at a specified time in the future. This is a popular tool for hedging risks or speculation, allowing investors to open longing or short positions, typically with leverage.
Currently, Coinbase is listing derivatives contracts for about 92 assets on its international exchange and nearly two dozen assets in the US market, according to information from the platform's website.
Products in the US include contracts linked to memecoins like Dogecoin (DOGE), as well as traditional commodities like oil and gold.
In December 2024, Coinbase said its derivatives trading volume on the platform had surged by 10,950% compared to the same period last year. The exchange is also reportedly negotiating to acquire Deribit to consolidate its position in derivatives.
Coinbase launched its US derivatives platform in 2022, offering futures contracts - including nano contracts - to tens of millions of users in the country.
Launched in 2012, XRP Ledger is one of the oldest blockchain networks, specializing in decentralized financial (DeFi) payment and financial applications for organizations.
As of April 21, XRP's market capital reached around $120 billion, according to data from CoinMarketCap.
Earlier in March, the US Securities and Exchange Commission (SEC) officially ended its years-long lawsuit with Ripple - the XRP Ledger developer - related to allegations of securities law violations.
Disclaimer: The article is for informational purposes only and is not investment advice. Investors should thoroughly research before making decisions. We are not responsible for your investment choices.
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