Svmuu News: Coinbase has officially announced that the regulated derivatives clearing business of the UK-based financial services group Marex now formally supports the use of USDC as initial margin collateral, marking the first time a stablecoin has been integrated into the operational workflow of traditional clearing infrastructure.Prime Trading, LLC executed the first transaction under this arrangement, with Coinbase providing the underlying infrastructure support for the process, including custody services, instant 1:1 conversion between fiat currency and USDC, and a customized daily reporting system compliant with clearing industry standards.
This initiative was made possible by the “No-Action Letter” issued by the U.S. Commodity Futures Trading Commission (CFTC) in December 2025, which paved the way for Futures Commission Merchants (FCMs) to accept stablecoins, Bitcoin, and Ethereum as client margin collateral.
CoinbaseIt states that USDC, as a collateral asset, provides round-the-clock liquidity, helping institutions overcome the limitations of traditional banking hours and enabling margin funds to be transferred in line with market operating hours. In this collaboration, Coinbase’s core capabilities include:
24/7 instant fiat-to-USDC conversion: Institutional clients can convert between U.S. dollars and USDC at any time, improving margin allocation efficiency;
Customized reporting system: Meets traditional clearing system requirements for asset record-keeping, reconciliation, and regulatory reporting;
New York State Department of Financial Services (NYDFS)-compliant custody: Providing institutional-grade security for USDC collateral assets.