Coinbase is Purchasing a U.S.-based Derivatives Exchange FairX

TokenInsight news, Coinbase has announced that it is purchasing FairX, a derivatives exchange. With this acquisition, Coinbase plans to first bring regulated crypto derivatives to market through FairX's existing partner ecosystem, and then use FairX's infrastructure to offer crypto derivatives to all Coinbase customers in the United States. FairX is registered with the Commodity Futures Trading Commission (CFTC) as a Designated Contract Marketplace (DCM), meaning it can offer futures products in the U.S., and launched its exchange in May 2021 after receiving regulatory approval in late 2020.