Coinbase wades into crypto derivatives with deal for futures exchange

Coinbase is buying a fledgling futures exchange to gain a foothold in cryptocurrency derivatives, complementing its presence as the biggest US-based spot exchange for digital currencies. The company said on Wednesday it would acquire FairX, which launched last year and is regulated by the US Commodity Futures Trading Commission. “Through this acquisition, we plan to bring regulated crypto derivatives to market, initially through FairX’s existing partner ecosystem,” Coinbase said in a statement. “Over time, we plan to leverage FairX’s infrastructure to offer crypto derivatives to all Coinbase customers in the US.”

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