Coinbase buys crypto futures exchanges, plans to sell derivatives in U.S

FILE PHOTO: The logo for Coinbase Global Inc, the biggest U.S. cryptocurrency exchange, is displayed on the Nasdaq MarketSite jumbotron and others at Times Square in New York, U.S., April 14, 2021. REUTERS/Shannon Stapleton

LONDON (Reuters) - Major cryptocurrency exchange Coinbase said it is buying a crypto futures exchange, FairX, as part of a move to offer crypto derivatives to traders in the United States.

FairX, which was launched last year, is the operating name of LMX Labs. It sells futures products and is regulated by the U.S. Commodity Futures Trading Commission (CFTC).