USDC to Serve as Collateral in Futures Markets Under Coinbase Derivatives and Nodal Clear Initiative

Coinbase Derivatives, Nodal Clear Push for USDC Use as Futures Collateral in U.S. Market

Coinbase Derivatives and Nodal Clear are working to establish USDC as accepted collateral for U.S. regulated futures trading, with an eye toward launching the product in 2026, pending regulatory approval.

If granted the green light by the Commodity Futures Trading Commission (CFTC), this would mark the first instance of a stablecoin being approved for use as margin collateral in the U.S. futures markets.

Under the plan, Coinbase Custody Trust would handle the safekeeping of USDC, while clearing would be managed by Nodal Clear, a CFTC-regulated clearinghouse owned by Deutsche Börse’s EEX Group.

The firms confirmed they’re currently in dialogue with regulators to advance the proposal.

“Adding USDC as collateral reflects our mission to expand trading options for U.S. market participants and enable near-instant money movement,” said Boris Ilyevsky, CEO of Coinbase Derivatives.

Coinbase sees this step as a significant milestone in its broader effort to position USDC as a “true cash equivalent.” USDC, the second-largest stablecoin after Tether’s USDT, is also set to integrate into Shopify through Coinbase’s Base network.

This development comes on the heels of Coinbase Derivatives partnering with Nodal Clear to launch 24/7 trading for bitcoin (BTC) and ether (ETH) futures in the U.S.