US cryptocurrency exchange Coinbase has agreed to acquire the CFTС-regulated crypto derivatives platform FairX.
The exchange will be able to offer retail and institutional clients access to regulated derivatives for digital assets. FairX is licensed as a designated contract market (DCM).
Partners include TD Ameritrade, E*Trade, StoneX, PhillipCapital, ABN AMRO, Wedbush, Virtu Financial and others.
The transaction is expected to be finalized in the first fiscal quarter. The parties must obtain regulatory approval first. The cost of the deal has not disclosed. The exchange is gradually integrating FairX into its ecosystem.
Coinbase sent in September an application to register as a futures commission merchant (FCM). In the long term, the step will allow the company to obtain a CFTC license.
In August, FTX.US acquired cryptocurrency derivatives exchange LedgerX with a DCM license.