• Coinbase Global (NasdaqGS:COIN) received CFTC approval for Coinbase Clearing LLC as a Derivatives Clearing Organization in the U.S.
• The registration lets Coinbase internally clear and settle crypto futures, options on futures, and swaps for its U.S. clients.
• Coinbase plans to support 24/7 settlement using stablecoins such as USDC and reduce reliance on external clearing firms.
• The new CFTC clearing approval for Coinbase sits alongside wider trends our research has identified for the business. We have also flagged 1 warning sign for Coinbase Global.

Crypto derivatives are only one piece of the broader digital asset theme, so it can be useful to compare Coinbase against peers through 19 cryptocurrency and blockchain stocks.