Coinbase has listed futures contracts for the XRP token on its US derivatives alternate, the cryptocurrency platform stated on April 21.
The contracts are overseen by the US Commodity Futures Buying and selling Fee (CFTC) and provide merchants “a regulated, capital-efficient strategy to achieve publicity to some of the liquid digital belongings,” the corporate said in a submit on the X platform.
Coinbase’s XRP (XRP) futures embrace customary contracts representing 10,000 XRP and retail-oriented “nano” contracts representing 500 XRP every, or roughly $1,000 as of April 21, according to regulatory filings.
The contracts are the latest crypto futures to launch on Coinbase’s derivatives alternate, which additionally options Solana (SOL) and Hedera (HBAR) futures contracts, each added in February.
Associated: Coinbase in talks to buy derivatives exchange Deribit: Report
Burgeoning market phase
Since 2024, US exchanges — together with Coinbase, Robinhood and Chicago Mercantile Alternate — have been increasing crypto futures choices in response to strong demand from retail and institutional investors.
Futures contracts are standardized agreements to purchase or promote an underlying asset at a future date. They’re in style for hedging and hypothesis as a result of they let merchants take lengthy and quick positions, typically with leverage.
Coinbase lists derivatives tied to some 92 completely different belongings on its worldwide alternate and roughly two dozen within the US, in accordance with its web site.
Its US-traded merchandise embrace contracts tied to memecoins, resembling Dogecoin (DOGE), and commodities, resembling oil and gold.
In December, Coinbase stated derivatives buying and selling volumes soared roughly 10,950% in 2024. The alternate is reportedly in talks to purchase Deribit in a bid to develop its derivatives footprint.
Coinbase launched its US derivatives alternate in 2022, bringing cryptocurrency futures — together with retail-oriented “nano” contracts — to tens of tens of millions of US customers.
Launched in 2012, XRP Ledger is among the many oldest blockchain networks and makes a speciality of funds and decentralized finance (DeFi) purposes for establishments.
As of April 21, XRP’s market capitalization stands at roughly $120 billion, according to CoinMarketCap.
In March, the US Securities and Alternate Fee (SEC) dropped a years-long lawsuit in opposition to XRP Ledger’s developer, Ripple, for alleged securities regulation violations.
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