$USDC

Cryptocurrency exchange Coinbase (Nasdaq: COIN) announced on June 18 that its subsidiary Coinbase Derivatives LLC is collaborating with Nodal Clear to include the USDC stablecoin as allowable collateral for futures trading in the U.S. This initiative, which is part of a multi-year extension agreement, is being developed in accordance with the requirements of the U.S. Commodity Futures Trading Commission (CFTC). "This is expected to be the first regulated use case of USDC as collateral, using Coinbase Custody Trust as the custodian," the cryptocurrency exchange stated. Coinbase Custody Trust, a Qualified Custodian regulated by the New York Department of Financial Services, will act as the custodian in this agreement.