In a move set to reshape the U.S. derivatives landscape, Coinbase Derivatives and Nodal Clear have announced plans to introduce USDC stablecoin as eligible collateral in regulated U.S. futures markets. This initiative, revealed on Wednesday, aims to make Circle’s USD Coin (USDC) the first stablecoin officially approved for collateral use in U.S. futures trading.
Pending approval from the Commodity Futures Trading Commission (CFTC), this development could mark a major step forward in integrating digital assets with traditional financial markets. The goal is to gain full CFTC approval by 2026.
What the Partnership Means for the Industry
Coinbase Derivatives will leverage Coinbase Custody Trust to handle custody services for the USDC collateral. This ensures that digital asset storage meets regulatory standards, providing both transparency and security to institutional participants.
Nodal Clear, a CFTC-regulated clearinghouse and part of the EEX Group (a subsidiary of Deutsche Börse), will handle clearing operations. The two companies previously worked together to support select crypto futures on the Coinbase Derivatives Exchange, and this new initiative builds on that foundation.
Nodal Clear CEO Paul Cusenza shared optimism about the collaboration, highlighting its potential to drive innovation and broaden access to regulated crypto-based financial products.
Circle’s Growing Presence in Financial Markets
The announcement comes shortly after Circle, the issuer of USDC, went public on the New York Stock Exchange, with its shares debuting at $69. The timing underscores Circle’s growing influence in traditional finance, as stablecoins gain traction among institutions.
This initiative is more than just a technical upgrade—it represents a meaningful bridge between the crypto and traditional finance worlds. If approved, it could open the door for broader stablecoin adoption in highly regulated financial systems.
