Coinbase Derivatives, Nodal Clear Plan USDC Integration as Futures Collateral in U.S.

Coinbase Derivatives and Nodal Clear are moving to make history by integrating the USDC stablecoin as collateral for margined futures trades in the U.S., aiming for a rollout in 2026.

If the plan secures approval from the Commodity Futures Trading Commission (CFTC), it would mark the first time a stablecoin is officially recognized as collateral for regulated margined futures contracts in the country.

Under the proposal, Coinbase Custody Trust will be responsible for safeguarding the USDC collateral, while clearing operations will be handled by Nodal Clear, a CFTC-regulated clearinghouse owned by Deutsche Börse’s EEX Group.

The firms said they are in discussions with U.S. regulators to bring the initiative to market.

“Our commitment to integrate USDC as collateral reflects our dedication to enhance trading capabilities for U.S. market participants and improve operational efficiency through nearly instant money movement,” said Boris Ilyevsky, CEO of Coinbase Derivatives, in a statement.

Coinbase called the move a “meaningful milestone” in its broader effort to establish USDC as a “true cash equivalent.” USDC, currently the second-largest stablecoin after Tether’s USDT, is also slated for integration into Shopify via Coinbase’s Base network.

This announcement comes on the heels of Coinbase Derivatives’ collaboration with Nodal Clear to launch 24/7 trading for bitcoin (BTC) and ether (ETH) futures in the U.S.