Coinbase Global Inc (NASDAQ:COIN) stock is up as it won the greenlight to give customers in the United States access to crypto futures trading.
It sees Coinbase as the first ‘crypto-native entity’ to provide spot crypto trading alongside crypto futures.
The trading app can now introduce Bitcoin and Ether futures contracts through its Commodity Futures Trading Commission (CFTC)-regulated derivatives exchange.
Futures trading won’t be immediately available, however, as interested customers must first join a waitlist for early access.
At the same time, regulatory scrutiny remains on the crypto industry through the ongoing legal challenges of the U.S. Securities and Exchange Commission (SEC). The SEC, in June, alleged that Coinbase had violated local securities laws.
In New York on Wednesday, Coinbase stock was up US$3.13 or 3.95% changing hands at US$82.31 ahead of the open.