The day after securing a license in Argentina, Coinbase is trying to expand its product lineup by proposing a Solana (SOL) futures contract.
Coinbase Snow Solar or Gift Contract
The largest encryption exchange in the United States officially filed a new investor tool for institutional investors by officially raising the Commodity Future Trading Commission (CFTC) on Thursday.
If approved, the USD settlement contract begins on February 18, and each contract represents 100 SOL tokens and about $ 25,000 nominal value.
Coinbase aims to strengthen competitiveness and attract more institutional capital by expanding into solana derivatives.
Solana ranked the fifth largest cryptocurrency and its market capitalization exceeded $ 116.8 billion.
Use the volatility of solana
This measure consists of the strategy of Coinbase to take advantage of the increase in demand for solar and -based investment products, taking advantage of the volatility of the token and the strong presence of Defi and NFT.
The timing is noteworthy because companies such as Vaneck and Bitwise have recently submitted to Solana ETFS and shows a wide range of institutional interest.
If approved, Solana Future can differentiate Coinbase from the industrial security CME group and only offers gifts and options from Bitcoin and Ethereum.
Why this is important
The rapid surge in the encryption market to promote Coinbase’s Solana Future, which leads to bidding for sales growth and challenging existing players. This measure can accelerate the extensive adoption of encryption derivatives as the trust in Solana increases as an investor asset.
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