Coinbase Derivatives, a subsidiary of the well-known US-based cryptocurrency exchange Coinbase, has made a filing to launch Solana (SOL) futures. The platform is also planning to launch Hedera (HBAR) futures. According to the filing, the futures contracts for both tokens are scheduled to go live on or after February 18.
This move occurs amidst regulatory changes for the cryptocurrency market in the United States. The decision by Coinbase Derivatives comes after a number of crypto-based ETF filings.
The new contracts will be cash-settled on a monthly basis. Coinbase Derivatives first launched in 2021 and is regulated by the CFTC as a designated contract market, which allows for the trading of crypto derivatives such as futures contracts for various cryptocurrencies. Each contract will be equal to 100 SOL tokens. Trading operations will terminate at 4:00 PM London time during the final Friday of the monthly contract period. Coinbase will launch “nano” Solana contracts that have a value of five SOL.
Solana is a crypto computing platform that seeks to achieve high transaction speeds without sacrificing decentralization. Its native cryptocurrency is SOL, which is used to pay transaction fees and for staking.
