Coinbase is set to buy a crypto futures exchange, FairX as part of the strategy to provide crypto derivatives to US customers, according to a blog post by Coinbase on Thursday.

  • FairX, which was started last year, is operating under the brand name LMX Labs. It is involved in the selling of futures products and is regulated by US Commodity Futures Trading Commission (CFTC).
  • Coinbase stated it wants to make trading of regulated crypto derivatives easily accessible to retail and institutional clients.
  • In a blog post, Coinbase stated that the development of a transparent derivatives market is a critical inflection point for any asset category and believes it will unlock further participation in the cryptoeconomy for retail and institutional clients.

Trading of crypto derivatives has grown rapidly since institutional investors in the last 18 months began to embrace digital coin trading, creating a huge opportunity for platforms to provide futures and options. COIN up +2.77, pre-market trading