Coinbase Derivatives is enhancing its collaboration with Nodal Clear to introduce Circle’s USDC stablecoin as collateral in US futures markets. Announced on Wednesday, this initiative aims to promote stablecoin usage in regulated derivatives trading, pending approval from the Commodity Futures Trading Commission (CFTC). Coinbase Derivatives stated that this will be the first regulated application of USDC as collateral, utilizing Coinbase Custody Trust for custody services. The goal is to have USDC recognized as eligible collateral for US futures by 2026. Nodal Clear, a CFTC-regulated clearing organization, is part of the EEX Group, owned by Deutsche Börse. This partnership follows Nodal Clear's previous support for trading select cryptocurrency futures on Coinbase Derivatives Exchange. Paul Cusenza, Nodal Clear's CEO, expressed enthusiasm for continuing their partnership and driving innovation in the industry. This announcement follows Circle's public listing on the New York Stock Exchange, with its shares trading at $69. Read more AI-generated news on: https://app.chaingpt.org/news

#USDC