Coinbase更深入地進入具有永久未來的衍生品，旨在主導加密貨幣貿易景觀。這是金融的未來嗎？

Coinbase, Derivatives, and Perpetual Futures: A New Era?

共同的衍生物和永久未來：一個新時代？

Coinbase is making waves in the crypto world, expanding its offerings to include derivatives and perpetual futures. This move could reshape the landscape of crypto trading, especially in the U.S.

Coinbase在加密貨幣世界中引起了轟動，將其產品擴展到包括衍生產品和永久未來。此舉可以重塑加密交易的景觀，尤其是在美國

Coinbase's Big Bet on Derivatives

Coinbase對衍生品的大賭注

Coinbase Global is set to launch CFTC-cleared perpetual futures for U.S. customers later this year, which was announced at its State of Crypto Summit on June 12, 2025. While they already offer these instruments offshore, domestic access is crucial. Executives point out that derivatives account for a whopping 75% of global crypto trading.

Coinbase Global將於今年晚些時候為美國客戶推出CFTC清除的永久期貨，該期貨在2025年6月12日在其加密貨幣峰會上宣布。儘管他們已經在海上提供了這些工具，但國內訪問至關重要。高管指出，衍生產品佔全球加密交易的75％。

Adding fuel to the fire, on June 18, 2025, Coinbase Derivatives partnered with Nodal Clear, aiming to allow USDC as collateral in U.S. futures markets by 2026, pending CFTC approval. Coinbase Custody Trust will hold the funds, marking a potential game-changer by using a dollar-backed stablecoin as collateral for regulated U.S. futures. This could lower margin costs for both institutional and retail traders.

在2025年6月18日，Coinbase衍生品與Nodal Clear合作，旨在允許USDC作為2026年美國期貨市場的抵押品，在CFTC批准之前允許USDC作為美國期貨市場的抵押品。 Coinbase Casundody Trust將持有資金，通過使用美元支持的Stablecoin作為受監管的美國期貨的抵押品，標誌著潛在的遊戲規則。這可以降低機構和零售商人的利潤成本。

USDC: The Collateral of the Future?

USDC：未來的抵押品？

Coinbase isn't just dabbling in derivatives; they're pushing USDC as a key player in the financial ecosystem. Their new payment infrastructure, built around USDC, targets global commerce platforms, simplifying USDC acceptance for merchants. This system removes the need for deep blockchain integration.

Coinbase不僅涉足衍生物；他們將USDC作為金融生態系統的關鍵參與者。他們的新付款基礎架構圍繞USDC構建，以全球商務平台為目標，簡化了對商人的認可。該系統消除了深層區塊鏈集成的需求。

The Coinbase Payments Stack includes Stablecoin Checkout (supporting wallets like MetaMask and Phantom), the Ecommerce Engine (API layer for merchant operations), and the Commerce Payments Protocol (secure onchain transactions). This positions USDC as a cornerstone of global finance, with a focus on both commerce and derivatives.

Coinbase Payments stack包括Stablecoin結帳（諸如MetAmask和Phantom的支撐錢包），電子商務引擎（用於商戶運營的API層）以及商業付款協議（安全的OnChain Transactions）。這將USDC定位為全球金融的基石，重點是商業和衍生品。

Coinbase's Grand Strategy

Coinbase的宏偉策略

Coinbase is not only launching derivatives and integrating USDC; they're building a comprehensive on-chain financial ecosystem. They're seeking SEC approval for stock tokenization trading, partnering with Shopify to enable USDC payments, and supporting all Base ecosystem assets through DEX.

Coinbase不僅是啟動衍生產品並集成了USDC；他們正在建立一個全面的鏈上金融生態系統。他們正在尋求SEC批准股票令牌交易，與Shopify合作以啟用USDC付款，並通過DEX支持所有基本生態系統資產。

Base, Coinbase's public chain, is becoming a strategic hub. With traditional financial giants like JPMorgan experimenting with JPMD tokens on Base, it's clear that Coinbase aims to create a compliant “on-chain financial empire.”

Coinbase的公共連鎖店基地正在成為一個戰略樞紐。諸如摩根大通（JPMorgan）這樣的傳統金融巨頭在基礎上對JPMD代幣進行了實驗，很明顯，Coinbase旨在創建一個合規的“鏈金融帝國”。

Fartcoin Futures? Really?

Fartcoin Futures？真的嗎？

In a surprising turn, Coinbase Advanced is even adding support for Fartcoin (FARTCOIN) perpetual futures. Yes, you read that right. This meme coin has been rallying, and Coinbase's listing has fueled its rise. While it might sound ridiculous, it shows how far Coinbase is willing to go to capture the market's attention.

令人驚訝的是，Coinbase Advanced甚至增加了對Fartcoin（Fartcoin）永久期貨的支持。是的，您讀了正確的。這種模因硬幣一直在集會，Coinbase的上市促進了其上升。雖然這聽起來很荒謬，但它顯示了Coinbase願意抓住市場的注意力。

The Road Ahead

前面的道路

Coinbase's moves are ambitious, but they face regulatory hurdles, fierce competition, and the complexities of integrating technology and compliance. Can they pull it off? Only time will tell.

Coinbase的舉動雄心勃勃，但他們面臨監管障礙，激烈的競爭以及整合技術和合規性的複雜性。他們可以把它拉下來嗎？只有時間會證明。

So, buckle up, crypto enthusiasts! Coinbase is making big moves, and it's going to be an interesting ride. Who knows, maybe one day we'll all be trading tokenized stocks and Fartcoin futures. The future is weird, but hey, at least it's never boring!

因此，搭扣，加密愛好者！ Coinbase正在做出大動作，這將是一個有趣的旅程。誰知道，也許有一天我們都會全都交易象徵性的股票和Fartcoin Futures。未來很奇怪，但是，嘿，至少這從來都不是無聊的！