Coinbase has sent an application to the National Futures Association (NFA) to become a futures commission merchant. The entity will be Coinbase Financial Markets. Earlier in 2021, the Coinbase bought Skew, a platform that specializes in derivatives trading. This move showed the intentions of Coinbase

Coinbase Financial Markets will compete with Binance and Kraken, which currently dominate the crypto derivatives trading market. They are huge competitors, however, Coinbase has huge name recognition.

One issue that Coinbase may have to resolve is that it is known for its high fees. It would be interesting to see if this problem is dealt with effectively.

This post is intended to only raise awareness. In order to make actual financial decisions please contact your financial advisor and/or tax advisor prior to making the decision.

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