Coinbase更深入地进入具有永久未来的衍生品，旨在主导加密货币贸易景观。这是金融的未来吗？

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

共同的衍生物和永久未来：一个新时代？

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在加密货币世界中引起了轰动，将其产品扩展到包括衍生产品和永久未来。此举可以重塑加密交易的景观，尤其是在美国

Coinbase's Big Bet on Derivatives

Coinbase对衍生品的大赌注

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将于今年晚些时候为美国客户推出CFTC清除的永久期货，该期货在2025年6月12日在其加密货币峰会上宣布。尽管他们已经在海上提供了这些工具，但国内访问至关重要。高管指出，衍生产品占全球加密交易的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衍生品与Nodal Clear合作，旨在允许USDC作为2026年美国期货市场的抵押品，在CFTC批准之前允许USDC作为美国期货市场的抵押品。 Coinbase Casundody Trust将持有资金，通过使用美元支持的Stablecoin作为受监管的美国期货的抵押品，标志着潜在的游戏规则。这可以降低机构和零售商人的利润成本。

USDC: The Collateral of the Future?

USDC：未来的抵押品？

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不仅涉足衍生物；他们将USDC作为金融生态系统的关键参与者。他们的新付款基础架构围绕USDC构建，以全球商务平台为目标，简化了对商人的认可。该系统消除了深层区块链集成的需求。

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结帐（诸如MetAmask和Phantom的支撑钱包），电子商务引擎（用于商户运营的API层）以及商业付款协议（安全的OnChain Transactions）。这将USDC定位为全球金融的基石，重点是商业和衍生品。

Coinbase's Grand Strategy

Coinbase的宏伟策略

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不仅是启动衍生产品并集成了USDC；他们正在建立一个全面的链上金融生态系统。他们正在寻求SEC批准股票令牌交易，与Shopify合作以启用USDC付款，并通过DEX支持所有基本生态系统资产。

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的公共连锁店基地正在成为一个战略枢纽。诸如摩根大通（JPMorgan）这样的传统金融巨头在基础上对JPMD代币进行了实验，很明显，Coinbase旨在创建一个合规的“链金融帝国”。

Fartcoin Futures? Really?

Fartcoin Futures？真的吗？

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.

令人惊讶的是，Coinbase Advanced甚至增加了对Fartcoin（Fartcoin）永久期货的支持。是的，您读了正确的。这种模因硬币一直在集会，Coinbase的上市促进了其上升。虽然这听起来很荒谬，但它显示了Coinbase愿意抓住市场的注意力。

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的举动雄心勃勃，但他们面临监管障碍，激烈的竞争以及整合技术和合规性的复杂性。他们可以把它拉下来吗？只有时间会证明。

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，加密爱好者！ Coinbase正在做出大动作，这将是一个有趣的旅程。谁知道，也许有一天我们都会全都交易象征性的股票和Fartcoin Futures。未来很奇怪，但是，嘿，至少这从来都不是无聊的！