Coinbase Now Provides Nano Bitcoin Futures
This week, Coinbase is expected to list a derivative product called Nano Futures Contract.
This will be the first product listed on the Coinbase Derivatives Exchange, allowing investors to buy a linked contract for one percent of Bitcoin. Nano Futures Contracts can be purchased by customers through third-party brokers. Customers will not be able to purchase nano futures contracts directly from Coinbase until the exchange obtains a license to operate as a futures commission merchant.
While the company is dealing with cash flow issues, Coinbase’s new product will enter the established crypto derivatives market.
According to Dan Dolev, senior analyst at Mizuho, the new product does not address the central issue of competitors offering zero transaction fees, which would have a significant impact on revenue if Coinbase competed.
Summited by HotQA