USDC Set to Be Used as Collateral for Futures Trades by Coinbase Derivatives and Nodal Clear

Coinbase Derivatives, Nodal Clear Plan USDC as Futures Collateral in Regulatory First

Coinbase Derivatives and Nodal Clear are preparing to introduce USDC as collateral for U.S. futures trading, aiming to launch the offering in 2026 if approved by regulators.

The proposal, which requires sign-off from the Commodity Futures Trading Commission (CFTC), would mark the first time a stablecoin is permitted as collateral for regulated margined futures contracts in the United States.

Under the plan, Coinbase Custody Trust would handle custody of USDC, while clearing services would be provided by Nodal Clear, a CFTC-regulated clearinghouse owned by the EEX Group under Deutsche Börse.

Both firms confirmed they are in discussions with regulators to bring the project to market.

“Integrating USDC as collateral demonstrates our commitment to expanding trading capabilities for U.S. market participants and improving operational efficiency through near-instant money movement,” said Boris Ilyevsky, CEO of Coinbase Derivatives, in a statement.

Coinbase called the move a significant milestone in its push to establish USDC as a “true cash equivalent.” USDC, the second-largest stablecoin behind Tether’s USDT, is also on track for integration into Shopify via Coinbase’s Base network.

The announcement follows Coinbase Derivatives’ recent collaboration with Nodal Clear to roll out 24/7 trading for bitcoin (BTC) and ether (ETH) futures in the U.S.