Coinbase has listed futures contracts for the XRP token on its US derivatives change, the cryptocurrency platform mentioned on April 21.
The contracts are overseen by the US Commodity Futures Buying and selling Fee (CFTC) and provide merchants “a regulated, capital-efficient strategy to achieve publicity to one of the crucial liquid digital belongings,” the corporate said in a put up on the X platform.
Coinbase’s XRP (XRP) futures embrace customary contracts representing 10,000 XRP and retail-oriented “nano” contracts representing 500 XRP every, or roughly $1,000 as of April 21, according to regulatory filings.
The contracts are the latest crypto futures to launch on Coinbase’s derivatives change, which additionally options Solana (SOL) and Hedera (HBAR) futures contracts, each added in February.
Associated: Coinbase in talks to buy derivatives exchange Deribit: Report
Burgeoning market section
Since 2024, US exchanges — together with Coinbase, Robinhood and Chicago Mercantile Alternate — have been increasing crypto futures choices in response to strong demand from retail and institutional investors.
Futures contracts are standardized agreements to purchase or promote an underlying asset at a future date. They’re fashionable for hedging and hypothesis as a result of they let merchants take lengthy and quick positions, typically with leverage.
Coinbase lists derivatives tied to some 92 totally different belongings on its worldwide change and roughly two dozen within the US, based on its web site.
Its US-traded merchandise embrace contracts tied to memecoins, resembling Dogecoin (DOGE), and commodities, resembling oil and gold.
In December, Coinbase mentioned derivatives buying and selling volumes soared roughly 10,950% in 2024. The change is reportedly in talks to purchase Deribit in a bid to increase its derivatives footprint.
Coinbase launched its US derivatives change in 2022, bringing cryptocurrency futures — together with retail-oriented “nano” contracts — to tens of hundreds of thousands of US customers.
Launched in 2012, XRP Ledger is among the many oldest blockchain networks and focuses on funds and decentralized finance (DeFi) functions for establishments.
As of April 21, XRP’s market capitalization stands at roughly $120 billion, according to CoinMarketCap.
In March, the US Securities and Alternate Fee (SEC) dropped a years-long lawsuit towards XRP Ledger’s developer, Ripple, for alleged securities legislation violations.
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