Coinbase’s cryptocurrency derivatives trading expands into Europe, with acquisitions in sight

Can it compete with OKX and Binance?

Major US cryptocurrency exchange Coinbase (stock price -1% compared to the previous day) is planning to newly offer cryptocurrency-linked derivatives (such as futures) in the European Union (EU), and is a company with a regulatory license. appears to be considering an acquisition. CNBC reported.

According to an exclusive report by CNBC, Coinbase has entered into a deal to acquire the holding company that holds the MiFID II license. The name of the company has not been disclosed.

“MiFID II” refers to the rules regarding financial products that the EU updated in 2017. It comprehensively regulates asset classes such as stocks, bonds, derivatives, and currencies.

Although Coinbase currently only offers spot trading in Europe, derivatives trading accounts for 75% of the total cryptocurrency market, making it an important market development strategy for Coinbase. On the other hand, existing major players such as Binance, OKX, and Bybit have already established presence in the European market, so competition is likely to be tough.

Last year, Coinbase began offering futures trading for Bitcoin, Ethereum, Solana, etc. in the U.S. and offshore (in some U.S. overseas countries). The 24-hour trading volume of Coinbase derivatives is ranked 40th (CoinGecko data), so it seems that there is a lot of potential for growth.

connection: Coinbase to offer futures such as L2 virtual currency stocks

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