The United States’ biggest cryptocurrency exchange has now applied to trade crypto futures in derivatives recently. The company is called “Coin base”. The option of trading in futures and opportunities has been on the radar for a long time when the cryptocurrency frenzy started in the financial market. Coin Base’s Portfolio has been clearing this out with digital currency. Bitcoin derivatives are already capturing the financial market with considerable speed.
Application of Coin Base has been filed to start trading in options and futures.
Coin Base’s application of offering trade-in crypto derivatives in futures might also raise the competition among many other derivatives which already exist in the market for a very long time. Coin Base has one of the largest audiences and has been planning to expand its portfolio. In one of its tweets, the company stated that it had submitted the application of offering futures in derivatives to the National Futures Association. It is a regulatory body that manages the trading of futures and options in the market.
Other competition in the market that already exist
Many other US exchanges have maintained their distance because of this uncertain growing market in this century. CBOE global markets were the 1st to get Bitcoin futures on the list in 2017, outrun by the CME group whose public acceptance was larger than international markets. Coinbase has been making many efforts to grow its company in the form of new technologies and products to cope up with the competition in the market.