Cryptocurrency exchange Coinbase (COIN) can now list crypto futures in the U.S. nearly two years after applying for approval.
Coinbase has secured approval from the National Futures Association (NFA) to operate a Futures Commission Merchant (FCM), the exchange announced on Wednesday. The NFA is a self-regulatory organization with designation from federal derivatives regulator the Commodity Futures Trading Commission (CFTC).
The approval makes Coinbase the first crypto-focussed platform in the U.S. to offer regulated and leveraged crypto futures alongside traditional spot trading, according to its announcement.
COIN shares on the Nasdaq are up over 6% at $84.20 in pre-market trading.