Coinbase Clearing LLC has received approval from the U.S. Commodity Futures Trading Commission (CFTC) to register as a Derivatives Clearing Organization (DCO). This authorization enables Coinbase to establish a fully integrated in-house ecosystem covering brokerage, listing, and clearing services for derivatives products. The approval currently applies only to fully collateralized futures, options, and swaps, while leveraged derivatives will continue to rely on third-party clearing partners. The new clearing house accepts USDC as collateral and supports 24-hour settlement cycles.