Coinbase announced that Coinbase Financial Markets is the first and only CFTC-regulated futures commission merchant offering U.S. clients access to global crypto derivatives. The initial rollout provides access to Deribit options, where Bitcoin options open interest exceeds $31 billion, and Coinbase said perpetual contracts and additional collateral types will be added later. This adds a separate regulated distribution channel for U.S. clients seeking crypto derivatives exposure and broadens the existing topic beyond Kalshi’s CFTC-approved Bitcoin perpetual futures product on a regulated exchange.