Source: Cointelegraph Original: "{title}"
According to cryptocurrency platform Coinbase, on April 21, the platform has launched Ripple (XRP) futures contracts on its U.S. derivatives exchange.
According to the company's post on platform X, these contracts are regulated by the U.S. Commodity Futures Trading Commission (CFTC) and provide traders with "a regulated and capital-efficient way to participate in one of the most liquid digital assets."
Regulatory documents indicate that Coinbase's XRP futures include standard contracts representing 10,000 XRP, as well as "mini" contracts aimed at retail investors, each representing 500 XRP.
These contracts are the latest cryptocurrency futures products launched by Coinbase's derivatives exchange. The exchange previously introduced Solana (SOL) and Hedera (HBAR) futures contracts in February.
Since 2024, U.S. exchanges, including Coinbase, Robinhood, and the Chicago Mercantile Exchange (CME), have been continuously expanding their cryptocurrency futures product offerings in response to strong demand from retail and institutional investors.
Futures contracts are standardized agreements to buy or sell an underlying asset at a future date. Because traders can go long or short and often use leverage, they have become popular tools for hedging and speculation.
According to Coinbase's official website, the platform has launched derivatives for 92 different assets on its international exchange, with about 24 available in the U.S. market.
Its U.S. trading products include contracts related to meme coins, such as Dogecoin (DOGE), as well as commodity contracts like oil and gold.
In December of last year, Coinbase reported a staggering 10,950% increase in its derivatives trading volume for 2024. Reports indicate that the exchange is in talks to acquire Deribit to expand its derivatives business.
Coinbase launched its U.S. derivatives exchange in 2022, bringing cryptocurrency futures products to millions of U.S. users, including "mini" contracts aimed at retail investors.
The XRP Ledger, established in 2012, is one of the earliest blockchain networks, focusing on providing payment and decentralized finance (DeFi) applications for institutions.
According to CoinMarketCap data, as of April 21, XRP's market capitalization is approximately $120 billion.
In March of this year, the U.S. Securities and Exchange Commission (SEC) withdrew its long-standing lawsuit against Ripple, the developer of the XRP Ledger, for alleged violations of securities laws.
Related: Ripple-acquired Hidden Road has received registration approval from the Financial Industry Regulatory Authority.
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