Coinbase Launches First Crypto Derivatives Product Aimed at Retail Traders

Coinbase Derivatives Exchange, formerly known as FairX, is launching its first crypto derivatives product this month, Nano Bitcoin futures (BIT). Coinbase said it's also awaiting regulatory approval on its own futures commission merchant (FCM) license to offer margined futures contracts for its clients. Coinbase bought FairX earlier this year, to launch crypto derivatives products. FairX launched its futures exchange platform in May 2021 after receiving regulatory approvals in late 2020.