Coinbase has introduced futures contracts for the XRP token on its US derivatives marketplace, the cryptocurrency platform announced on April 21.
The contracts are regulated by the US Commodity Futures Trading Commission (CFTC) and provide traders “a compliant, capital-efficient means to access one of the most liquid digital assets,” the company stated in a post on the X platform.
Coinbase’s XRP (XRP) futures consist of standard contracts worth 10,000 XRP and retail-focused “nano” contracts worth 500 XRP each, which is about $1,000 as of April 21, as per regulatory documentation.
The contracts are the newest crypto futures to be introduced on Coinbase’s derivatives platform, which also includes Solana (SOL) and Hedera (HBAR) futures contracts, both added in February.
Related: Coinbase in negotiations to acquire derivatives exchange Deribit: Report
Expanding market sector
Since 2024, US exchanges — including Coinbase, Robinhood, and Chicago Mercantile Exchange — have been broadening their crypto futures offerings in response to increased demand from retail and institutional investors.
Futures contracts are standardized agreements for the purchase or sale of an underlying asset at a predetermined date. They are favored for hedging and speculation as they allow traders to hold long and short positions, often utilizing leverage.
Coinbase offers derivatives linked to around 92 different assets on its global exchange and roughly two dozen in the US, according to its website.
Its US-traded offerings include contracts linked to memecoins, such as Dogecoin (DOGE), as well as commodities like oil and gold.
In December, Coinbase reported that derivatives trading volumes surged approximately 10,950% in 2024. The exchange is allegedly in discussions to acquire Deribit to broaden its derivatives presence.
Coinbase launched its US derivatives marketplace in 2022, introducing cryptocurrency futures — including retail-focused “nano” contracts — to millions of US users.
Established in 2012, XRP Ledger is one of the longest-standing blockchain networks and is designed for payment solutions and decentralized finance (DeFi) applications for businesses.
As of April 21, XRP’s market value is approximately $120 billion, according to CoinMarketCap.
In March, the US Securities and Exchange Commission (SEC) dismissed a lengthy lawsuit against XRP Ledger’s creator, Ripple, for purported violations of securities law.
Magazine: Crypto ‘more taboo than OnlyFans,’ claims Violetta Zironi, who sold song for 1 BTC
