Coinbase Explores Federal Bank Charter and Launches XRP Futures Amid Growing Crypto Banking Trend

Coinbase, one of the largest cryptocurrency exchanges in the U.S., is reportedly considering applying for a federal banking charter, a move that could significantly expand its financial services. Meanwhile, the platform has also launched XRP futures trading, which has already seen substantial daily volume. These developments highlight Coinbase’s efforts to bridge the gap between traditional banking and the crypto ecosystem.

Coinbase Considers U.S. Federal Bank Charter Application

Coinbase, a U.S.-based crypto exchange, is considering applying for a federal banking charter to expand its services into traditional banking. This would allow Coinbase to accept deposits and provide loans. Other crypto firms like Circle and BitGo have also shown interest in applying for U.S. banking licenses. No official decision has been made by Coinbase yet.

Coinbase Launches XRP Futures with $100M Daily Volume

Coinbase officially launched XRP futures contracts on its U.S. Derivatives Exchange on April 21. The XRP futures saw strong performance, with daily trading volume already surpassing 100 million USDC. The futures include Standard Contracts for large institutions and active traders, and retail-oriented “nano” contracts for smaller investors. This strong start indicates increasing demand and interest from both retail and institutional traders.