Coinbase applies to offer trading in crypto derivatives and futures on the exchange

• Coinbase plans to offer crypto futures and derivatives on its exchange.
• The company said it had filed an application with the National Futures Association.
• Earlier this week, Coinbase said it was planning to raise $2 billion via a bond sale.

Coinbase, the largest publicly listed crypto exchange, said on Wednesday it plans to expand its product offering to include trading in futures and derivatives.

The company said in a tweet it had submitted an application with the National Futures Association (NFA), a US regulatory body that focuses on derivatives.

Coinbase is joining CME Group, as well as crypto exchanges like Binance, OKEx, FTX and Kraken, in offering derivatives.

"This is the next step to broaden our offerings and offer futures and derivatives trading on our platforms. Goal: Further grow the crypto economy," Coinbase said in a tweet.

The company, which listed on the US stock exchange in February, has been making strides in growing its business.

Earlier this week, Coinbase said it planned to raise up to $2 billion through a bond sale and would use the proceeds to fund future takeovers, develop new technologies and products.

The NFA website showed Coinbase Financial Markets had a pending membership application.