Coinbase is acquiring FairX, a CFTC-regulated derivatives exchange. The acquisition is a key stepping stone on Coinbase's path to offer crypto derivatives to retail and institutional customers in the U.S. This is an important step toward Coinbase ultimately making the derivatives market accessible to its millions of customers through an industry-leading, simplified user experience.
In a commitment to providing its retail and institutional clients with the most reliable and complete set of trading tools to access the cryptoeconomy, Coinbase has taken important steps. On Wednesday, the exchange announced its acquisition of FairX, a CFTC-regulated derivatives exchange or Designated Contract Market.
Through this acquisition, Coinbase plans to bring regulated crypto derivatives to market, first through its existing FairX partner ecosystem. Over time, it plans to leverage FairX's infrastructure to offer crypto derivatives to all Coinbase U.S. customers. The exchange wants to make the derivatives market more accessible to its millions of retail customers by providing an easy-to-use user interface, Coinbase said in a blog post.
FairX brings a world-class team with deep expertise across product development, market structure, and compliance to Coinbase. Its market-leading exchange technology and proven ability to deliver listed futures in a straightforward, easy-to-understand structure, align with Coinbase's commitment to creating a more fair, accessible, efficient, and transparent financial system enabled by crypto. The acquisition is subject to customary closing conditions and reviews, and is expected to close in Coinbase's first fiscal quarter. FairX will operate normally during this period.
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