FMP
Coinbase Acquires FairX to Enter Into Crypto Derivatives
Jan 14, 2022 3:49 AM - Davit Kirakosyan
Image credit: FMP
Coinbase Global, Inc. (NASDAQ:COIN) made an announcement on Wednesday, according to which it is acquiring FairX, a CFTC- regulated derivatives exchange, with a transaction expected to close in Q1/22.
According to RBC Capital analysts, the company has a strong balance sheet with $6.4 billion in cash to make acquisitions for diversification, and derivatives in an area that is a logical extension to its business model and has a large addressable market.
The company plans to offer its derivatives products through FairX’s existing partner ecosystem such as TD Ameritrade, E*Trade and Virtu and over time leverage FairX’s infrastructure to offer crypto derivatives to all its US customers.
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