tl;dr
Coinbase, a cryptocurrency exchange, has applied for regulatory approval to introduce futures products tied to altcoins such as SHIB and AVA. The submission to the Commodity Futures Trading Commission (CFTC) includes proposals for derivatives linked to DOT, SHB, XLM, AVA, and LNK, with potential tra...
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COINBASE FILES FOR FUTURES ON SHIB, AVA: Coinbase seeks regulatory approval for altcoin futures trading, aligning with its strategy to expand derivatives market and comply with U.S. regulations.
AVA LEADS AS COINBASE PROPOSES NEW FUTURES: Coinbase's proposal for altcoin futures, including AVA, aims to attract institutional investors and build trust through regulated trading environment. Coinbase, a cryptocurrency exchange, has applied for regulatory approval to introduce futures products tied to altcoins such as SHIB and AVA. The submission to the Commodity Futures Trading Commission (CFTC) includes proposals for derivatives linked to DOT, SHB, XLM, AVA, and LNK, with potential trading starting from July 15. This move is part of Coinbase's strategy to expand its derivatives market and attract a wider investor base while complying with U.S. regulatory standards.
The introduction of futures contracts for altcoins like SHIB and AVA is a significant expansion of Coinbase's product offerings, aiming to provide new risk management and trading mechanisms for traders and institutional investors. Additionally, Coinbase has formed strategic partnerships, including with payment processor Stripe, to enhance its service capabilities and facilitate faster and more affordable transactions. Seeking CFTC approval for these new futures listings is a deliberate effort by Coinbase to create a regulated trading environment, aiming to attract more institutional investors and build trust among a broader range of investors. AVA, with a market capitalization of $11.1 billion, had the largest market cap among the proposed altcoins at the time of reporting. Coinbase cryptocurrency exchange recently filed for regulatory approval to offer future products related to several altcoins, including SHIB and AVA. The submission to the Commodity Futures Trading Commission (CFTC) includes proposals for derivatives tied to DOT, SHB, XLM, AVA, and LNK, with trading potentially commencing as early as July 15. This move aligns with Coinbase’s strategy to enhance its derivatives market and cater to a broader investor base, adhering strictly to U.S. regulatory standards.
COINBASE FILES FOR FUTURES ON SHIB, AVA The introduction of futures contracts for altcoins such as SHIB and AVA marks a significant expansion in Coinbase’s product offerings. Upon approval, these products will provide traders and institutional investors with new mechanisms to manage risk, speculate on price movements, and engage more fully in the cryptocurrency economy. advertisement This expansion aims to diversify Coinbase’s portfolio and improve its users’ trading experience by requiring less capital upfront. The company’s approach underlines its commitment to increasing accessibility to the crypto economy while maintaining compliance with stringent regulatory frameworks. Coinbase has proactively forged strategic partnerships to broaden its service capabilities and enhance on-chain adoption. A notable collaboration with payment processor Stripe is set to expedite transactions and integrate new systems that support faster and more affordable services. This partnership focuses on integrating USDC on Stripe’s Base platform, facilitating quicker transactions across over 150 countries. Additionally, this collaboration will streamline the process for U.S. customers converting fiat to crypto, integrating convenient payment methods such as Apple Pay and credit cards directly into Coinbase’s Wallet service.
RECOMMENDED ARTICLES ethereum price crypto news CRYPTO PRESALE PROJECTS FOR 2024 TO INVEST; UPDATED LIST Must Read ethereum price crypto news BEST CRYPTO AI TRADING BOTS FOR 2024: UPDATED LIST Must Read ethereum price crypto news ethereum price crypto news BEST CRYPTO EXCHANGES AND APPS SEPTEMBER 2024 Must Read ethereum price crypto news TOP MEME COINS TO BUY NOW: WHAT YOU NEED TO KNOW Must Read ethereum price crypto news ethereum price crypto news TOP 10 WEB3 GAMES TO EXPLORE IN 2024; HERE LIST Must Read Also Read: 21Shares Submits Application For Solana ETF AVA LEADS AS COINBASE PROPOSES NEW FUTURES Seeking CFTC approval for these new futures listings is a calculated step by Coinbase to attract more institutional investors by ensuring a regulated trading environment. This regulatory adherence is crucial for building trust and credibility among a broader range of investors, particularly those cautious about the volatile nature of cryptocurrencies. At the time of reporting, AVA had the largest market capitalization among the proposed altcoins, at $11.1 billion, and its trading price had slightly increased. In contrast, SHIB, despite its lower price point, remains a popular choice among investors, reflecting the diverse interest in the crypto market. Also Read: SEC
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