Coinbase Derivatives is expanding its collaboration with clearinghouse Nodal Clear to introduce Circle's USDC stablecoin into the U.S. futures market as eligible collateral.
On Wednesday, the two companies announced that USDC will now be accepted as collateral for margin futures trading, a move aimed at encouraging the adoption of stablecoins in regulated derivatives markets.
This integration requires approval from the U.S. Commodity Futures Trading Commission (CFTC), and Coinbase Derivatives and Nodal Clear are working with the agency to bring USDC into the U.S. futures market.
Coinbase Derivatives stated in the announcement: "This is expected to be the first regulated use case of USDC as collateral and will utilize Coinbase Custody Trust as the custodian."
Coinbase Derivatives and Nodal Clear plan to launch USDC as eligible collateral for U.S. futures sometime in 2026.
Nodal Clear is a CFTC-regulated derivatives clearing organization, part of the EEX Group under the German multinational Deutsche Börse. Coinbase Derivatives is also a CFTC-registered designated contract market that lists derivatives contracts based on underlying commodities for trading.
Coinbase Derivatives stated in the announcement: "This will mark an important milestone in our efforts to establish USDC as a true cash equivalent, while providing greater efficiency through near-instantaneous fund flows and secure custody." The announcement emphasized the reliability, operational advantages, and growing acceptance of the stablecoin in traditional financial markets.
The newly announced USDC collateral program is not the first collaboration between Coinbase and Nodal Clear.
In May, Nodal Clear began providing trading support for selected cryptocurrency futures contracts on the Coinbase Derivatives Exchange (CDE), including Bitcoin futures (BTI), Ethereum futures (ETI), Nano Bitcoin futures (BIT), and Nano Ethereum futures (ET).
Nodal Clear Chairman and CEO Paul Cusenza stated: "We are pleased to continue our relationship with Coinbase Derivatives and provide innovation to the industry, such as the first 24x7 margin futures we launched in May 2025." He added:
"The integration of USDC as collateral represents our ongoing commitment to responding to market demands and innovation. We look forward to working with our clearing members and the CFTC to bring this program to fruition."
This announcement comes as USDC issuer Circle listed its CRCL stock on the New York Stock Exchange on June 5, opening at $69.
Circle's USDC partner Coinbase (COIN) has been publicly traded for over four years since its listing on Nasdaq in April 2021.
Related: Deribit and Crypto.com integrate BlackRock's BUIDL as trading collateral
Original: “Circle's USDC to Become Eligible Collateral for U.S. Futures Trading”
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