TLDR
-
- Coinbase Derivatives and Nodal Clear plan to make USDC eligible collateral for margined futures trading in the United States.
- The integration of USDC into the futures market is subject to approval by the Commodity Futures Trading Commission.
- Coinbase Custody Trust will serve as the custodian for USDC collateral once the plan is approved.
- The companies are targeting the launch of USDC as collateral in regulated futures markets by the year 2026.
- This initiative would mark the first regulated use of a stablecoin as collateral in U.S. derivatives trading.
Circle’s USDC stablecoin is positioned to enter US futures markets as eligible collateral through a new initiative. Coinbase Derivatives and clearinghouse Nodal Clear plan to integrate USDC for margined futures, pending CFTC approval. The move is designed to promote regulated stablecoin adoption across traditional financial infrastructure.
USDC’s inclusion as collateral aims to enhance the efficiency and liquidity of derivatives trading. Coinbase Derivatives will use Coinbase Custody Trust to keep digital assets safe in this framework. Both companies target the introduction of USDC-backed collateral in US futures by 2026.
The development aligns with broader trends in crypto integration into institutional markets. It also marks a regulatory first for stablecoin usage within the US derivatives space. Market participants expect the move to streamline capital use and reduce transaction delays.
Circle USDC Targets Futures Market Entry
Circle’s USDC will be accepted as collateral for margined futures trading on Coinbase Derivatives Exchange. This integration will take place in partnership with Nodal Clear, a CFTC-regulated clearinghouse. The use of USDC is contingent on regulatory approval by the Commodity Futures Trading Commission.
Coinbase Derivatives, a designated contract market registered with the CFTC, will lead the trading operations. Nodal Clear will oversee risk management and clearing for USDC-backed contracts. The two institutions are coordinating with the CFTC to finalize necessary compliance steps.
This marks the first time a regulated derivatives clearinghouse includes a stablecoin as collateral for futures trading. The introduction supports USDC’s positioning as a digital cash equivalent in financial markets. Coinbase and Circle expect improved capital efficiency and near-instant collateral movements.
Expansion of the Coinbase-Nodal Clear Partnership
The new USDC collateral plan follows recent collaborations between Coinbase Derivatives and Nodal Clear. In May, Nodal Clear began supporting select cryptocurrency futures on Coinbase’s platform, including BTC and ETH futures. These contracts also included smaller-denomination futures such as nano Bitcoin and nano Ether.
This expansion reflects both firms’ ongoing commitment to regulated crypto market infrastructure. The partnership introduced 24×7 margined futures earlier in 2025, expanding access and flexibility for institutional traders. Now, with USDC, the focus shifts to stablecoin utility in real-time collateralization.
Nodal Clear’s role within the Deutsche Börse-backed EEX Group further supports institutional trust in the offering. Coinbase Derivatives continues expanding its reach in derivatives trading with regulated digital asset integration. The new initiative is expected to enhance participation and improve trading settlement processes.
