XRP Futures Set to Go Live on Coinbase Derivatives This April

Coinbase Derivatives has validated XRP again with the plans to launch futures contracts tied to the coin, a move that comes after the resolution of the Ripple and SEC case

International cryptocurrency exchange Coinbase Derivatives is set to launch XRP futures and nano XRP futures contracts on April 21. 

The exchange has filed the necessary documents with the U.S. Commodity Futures Trading Commission (CFTC), marking a new step in its expanding crypto derivatives strategy.

Coinbase XRP Futures From Legal Clarity

Notably, the timing of the Coinbase exchange’s proposal coincides with Ripple’s legal breakthrough against the SEC. 

For XRP, once considered an investment contract by the regulator, the settlement has cleared the path for the coin as both a retail and an institutional asset.

This historic settlement and legal clarity have given more crypto exchanges, such as Coinbase, the green light to build new products around XRP. Beyond the Coinbase exchange, Bitnomial has also launched an XRP futures product since the lawsuit ended.

Regarding the above, Ripple CEO Brad Garlinghouse recently mentioned that the outcome brings confidence to the company and its partners. 

For Coinbase, it marks an opportunity to expand its derivatives offerings on its platform with an asset no longer in legal limbo.

Two Contract Sizes, One Strategic Expansion

It is important to add that the two new XRP contracts will be cash-settled based on the MarketVector Coinbase XRP index. 

As detailed, the standard contract will cover 10,000 XRP, while the nano version was specially developed for smaller trades at 500 XRP. This will make the offering accessible for both large institutions and individual traders.

Coinbase Derivatives, formed after the 2022 acquisition of FairX, has already launched futures tied to Bitcoin, Ethereum, Solana, Dogecoin, and Cardano. 

It also offers traditional commodity contracts. Adding XRP marks a key step in broadening its reach in the regulated crypto market.

Meanwhile, Coinbase Inc. is now the largest individual node operator on the Ethereum network. The firm now handles 3.84 million staked ETH, representing 11.42% of all Ethereum.

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