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Coinbase Tries to Catch Up to Foreign-Based Rivals With Move Into Derivatives

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Derivatives marketplace CME Group could end up being a competitor in the U.S. for Coinbase’s crypto derivatives business, according to Owen Lau, a research analyst at Oppenheimer. CME told Oppenheimer on an earnings call that it has an edge in bitcoin derivatives given its offerings across many asset classes, its risk management experience and its highly regulated platform. Still, Coinbase’s customer base can help the exchange “draw trading volume and create [a] deep liquidity pool,” noted Lau, who has an outperform rating on Coinbase’s stock.

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