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Coinbase Gains CFTC Clearance for US Access to Global Crypto Derivatives

Key Highlights

  • Coinbase secured CFTC approval to provide US institutions access to global crypto derivatives.
  • Institutional onboarding for Deribit options trading has already started.
  • Coinbase said retail access to these products will be introduced in the future.

Coinbase Financial Markets, a part of Coinbase, has received approval from the CFTC to become the first regulated firm of its kind allowing US institutions to trade cryptocurrency futures and options on global markets.

Crypto derivatives, such as options and perpetual futures (perps), account for around 80% of all cryptocurrency trading. This market is huge, with trillions of dollars changing hands each year.

Previously, American customers haven’t had a safe, legal way to buy these products, often having to use foreign companies or simply go without.

Coinbase Financial Markets received a letter today from the CFTC stating that certain perpetual contracts traded on Deribit FZE (its international exchange) can be considered foreign futures contracts. The CFTC also indicated they won’t take action against Coinbase regarding this classification, as requested.

Onboarding has already started 

Coinbase announced that institutional clients can begin signing up today to trade options on Deribit through Coinbase Financial Markets. They are initially offering options, with perpetual futures contracts and more collateral types becoming available soon. Current Coinbase Prime clients should reach out to their account representative to get started.

Coinbase CEO Brian Armstrong announced on X that a significant change is happening for its US customers. He explained that until recently, American users couldn’t access most of the global cryptocurrency market, but that’s now changing.

He highlighted that Coinbase is the only US-regulated platform offering access to both international crypto options and perpetual futures, including options on Deribit with over $31 billion in open interest. He also expressed his gratitude to Chairman Selig and the CFTC for hosting the event.

Today is a significant day for crypto traders in the US, and for Coinbase! Previously, US users couldn’t access most global cryptocurrency markets, specifically perpetual futures and options. Now, Coinbase is the first regulated platform to give US users access to these global crypto options.

— Brian Armstrong (@brian_armstrong) May 29, 2026

The product will be available in stores soon, but there’s no specific date yet. When it does become available will depend on meeting requirements like following financial regulations, confirming clients are eligible, and providing necessary risk information.

Coinbase restores Direct Deposit function 

Coinbase has brought back its Direct Deposit feature for users in the United States. This allows customers to have a portion or all of their paycheck automatically deposited into their Coinbase account, where they can easily convert it to crypto or hold it as USDC, a stablecoin.

Coinbase now lets customers automatically invest in cryptocurrencies like Bitcoin and Ethereum, earn rewards by lending their crypto, and spend their funds with the Coinbase One Card – earning up to 4% back on purchases, according to CEO Brian Armstrong.

To sign up for direct deposit, customers can give their employer the account and routing numbers found in the Coinbase app.

Market witnesses divided perspective

As a researcher following the crypto market, I’ve observed a growing tension between fostering innovation and maintaining effective regulation. This recent development is a prime example. While many see it as a positive step towards blending crypto with traditional finance, I and others are concerned that increased access to derivatives could create wider systemic risks if not carefully managed. It really underscores the need for a balanced approach.

As the cryptocurrency market continues to develop, regulations will be crucial in determining how major exchanges compete to gain investments from institutions.

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2026-05-29 20:37