According to CoinMeta, Coinbase has obtained approval from CFTC to launch its own derivatives clearing house, adding another layer of clearing for derivatives business in the United States. Coinbase Clearing LLC was registered on September 28 and is capable of clearing fully collateralized futures, options, and swaps. Coinbase plans to build this operation around USDC collateralization and continuous settlement, enabling stablecoins to play a role within regulated derivatives infrastructure. This approval fills a gap left by Coinbase in the US derivatives infrastructure; Coinbase Financial Markets serves as a broker (as FCM), while Coinbase Derivatives provides a trading venue as a designated contract market (as DCM). The registration of CFTC allows Coinbase Clearing to handle fully collateralized contracts, thereby enabling Coinbase to control more aspects of the process from product design to settlement, reducing reliance on third-party infrastructure.