Coinbase Is Launching Cardano (ADA) and Natural Gas (NGS) Futures Contracts

Coinbase is seeking approval to list Cardano (ADA) and Natural Gas (NGS) future contracts. This addition of offerings for the energy and crypto markets would be achieved if the U.S. Commodity Futures Trading Commission (CFTC) gives them approval.

Coinbase is applying to the U.S. Commodity Futures Trade Commission (CFTC) to add Cardano (ADA) and Natural Gas (NGS) future contracts to its platform.

The addition of offerings for the energy and crypto markets comes as part of efforts by the exchange to cover more traders.Coinbase Derivatives submitted self-certification documents to the CFTC for NGS and ADA future contracts. Through self-certification, the exchange declares that the contracts comply with regulations. Pending no objection from the CFTC, they are set to become live on March 31.Coinbase is expanding its platform further with crypto and traditional future offerings.We're excited to announce that Coinbase Derivatives has filed with the CFTC to self-certify Natural Gas (NGS) futures and Cardano ( $ADA ) futures—expanding our offerings in both energy and crypto derivatives markets. We anticipate going live with these products on Monday,… pic.twitter.com/YZGmkb1TvM— Coinbase (@coinbase) March 15, 2024One of the leading blockchain platforms with the most scalability, sustainability, and security is Cardano (ADA). With the launch of ADA futures, traders are now able to trade on the price of Cardano without necessarily owning the asset. This opens up the possibility of advanced risk management and leverage.

The current price of Cardano at the time of writing is $ 0.7394 with a 24-hour trade volume of $ 1.82B. It has increased by 2.92% within the last 24 hours.Coinbase’s Bold Move with ADA and NGS FuturesThe exchange is also entering the energy sector with the launch of Natural Gas (NGS) futures. Natural gas is of critical importance to global markets, and Coinbase is looking to capitalize on this commodity. Traders will be able to bet on natural gas prices with the introduction of these futures. This puts the exchange as a player in both crypto and energy markets.The introduction of regulated future contracts would assist the SEC in approving crypto ETFs. Futures contracts provide a secure platform for price discovery and risk management. Grayscale has already applied for a spot in the Cardano ETF, which may be approved in the future. The SEC is closely watching and hopes for increased regulatory transparency in such markets.Coinbase’s entry into listing ADA and NGS futures is one of the biggest forays into the energy and crypto markets. If approved, the contracts take effect on March 31 and change the way traders trade the asset classes. The exchange is once again positioning itself as the leader at the intersection of traditional finance and digital assets. It is one of the steps towards solidifying its role in the new world of trading.