Stock Futures – FTX Seeks to Launch Coinbase Futures Market Forward of Public Itemizing

Cryptoforex exchange FTX is “working on” a pre-listing futures marketplace for Coinbase after the U.S.-based exchange introduced its S-1 submitting Thursday.

In a direct message with Fintech Zoom, FTX CEO Sam Bankman-Fried stated his group has plans to supply Coinbase futures as soon as it positive aspects readability from regulators, which isn’t assured.

FTX is at present in discussions with Munich-based monetary agency CM-Fairness to realize regulatory readability from non-U.S. authorities on if or how the market may launch. FTX first partnered with CM-Fairness for compliance causes when launching its tokenized stock spot and futures markets in October.

Associated: Coinbase Going Public May Let the SEC Dictate Which Tokens Get Listed

Bankman-Fried’s plans for Coinbase futures possible gained’t shock FTX customers given the exchange’s giant portfolio of different novel and quickly launched markets, together with presidential election prediction markets and bitcoin hashrate futures.

FTX additionally launched a pre-IPO marketplace for Airbnb the day earlier than the net trip property market’s Dec. 10 stock buying and selling debut. 

As with its different markets, nonetheless, FTX would prohibit U.S.-based merchants from accessing Coinbase futures, if launched, though the San Francisco-based exchange’s buying and selling debut is anticipated on an American stock market. 

With out regulatory readability, when Coinbase futures would launch is a large open query.

Associated: Ruffer Funding Used Coinbase to Execute $745M Bitcoin Purchase

Bankman-Fried stated his group will in all probability launch the market as quickly as they obtain constructive authorized readability. However that “could be very soon” or it “could also never happen.”

Associated Tales

The views and opinions expressed herein are the views and opinions of the writer and don’t essentially replicate these of Nasdaq, Inc.