USDC Enters US Futures Market as Collateral with Coinbase Partnership

- Circle’s USDC stablecoin to be eligible as US futures collateral. - Coinbase Derivatives, Nodal Clear collaborate on move; CFTC approval awaited. On June 18, 2025, Cointelegraph reported that Circle’s USDC stablecoin is set to become eligible collateral for US futures trading. This development, which could revolutionize the market, stems from a groundbreaking partnership between Coinbase Derivatives and Nodal Clear. The companies stated they will accept USDC for margined futures trading, although this acceptance is subject to approval from the Commodity Futures Trading Commission (CFTC). The initiative aims to promote stablecoin usage within regulated derivatives markets; furthermore, Coinbase Derivatives indicated they anticipate this will be the first regulated use case of USDC as collateral, with Coinbase Custody Trust serving as the custodian. The companies aim for USDC to debut as eligible collateral sometime in 2026. Nodal Clear, a CFTC-regulated derivatives clearing organization and part of Deutsche Börse’s EEX Group, is collaborating on this initiative with Coinbase Derivatives, which is itself a CFTC-registered designated contract market. This partnership marks a significant step toward establishing USDC as a reliable cash equivalent asset, as it promises enhanced efficiency through prompt money transfers and secure custody. This collaboration builds on an existing relationship between Coinbase and Nodal Clear, as in May 2025, Nodal Clear began providing clearing support for 24x7 trading of select cryptocurrency futures contracts on the Coinbase Derivatives Exchange. According to the latest market data, as of June 18, 15:09 UTC, USDC (USDC) is trading at $1, and its 24-hour trading volume has decreased by 0.032%.