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Coinbase Derivatives, Nodal Clear Plan to Use USDC as Collateral for Futures Trades
The move is expected to mark the first time a stablecoin is accepted as collateral for margined futures in the U.S.
Jun 18, 2025, 3:05 p.m.
What to know:
- Coinbase Derivatives and Nodal Clear are collaborating to integrate USDC stablecoin as collateral in regulated U.S. futures markets.
- The plan requires approval from the Commodity Futures Trading Commission (CFTC) and aims to launch in 2026.
- The integration is expected to enhance trading capabilities, improve operational efficiency, and further establish USDC as a “true cash equivalent.”
Coinbase Derivatives and Nodal Clear are working to integrate the USDC stablecoin as collateral in regulated U.S. futures markets, aiming to launch the new framework in 2026.
If approved by the Commodity Futures Trading Commission (CFTC), the plan is expected to mark the first time a stablecoin is formally accepted as collateral for margined futures in the U.S.
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Coinbase Custody Trust would hold the USDC. Nodal Clear, a CFTC-regulated and part of the Deutsche Börse-owned EEX Group, would handle clearing.
The two firms said they are collaborating with U.S. regulators to bring the offering to market.
“Our commitment to integrate USDC as collateral reflects our dedication to enhance trading capabilities for US market participants, improve operational efficiency through almost instant money movement,” Boris Ilyevsky, CEO of Coinbase Derivatives, said in a statement.
Coinbase touted the move as a “meaningful milestone” in its push to turn USDC into a “true cash equivalent.” The stablecoin, the second-largest behind Tether’s USDT, is also set to be integrated into Shopify over Base.
The announcement follows Coinbase Derivatives’ partnership with Nodal Clear to launch round-the-clock futures trading of BTC and ETH in the United States.
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