Coinbase to Offer Faster Transactions on Derivatives Exchange Through Partnership With Infrastructure Provider TNS

The new infrastructure will enable institutional traders to increase storage capacity and process large data sets with minimal delay.

AccessTimeIconApr 4, 2023 at 1:00 p.m. UTC
Updated May 9, 2023 at 4:11 a.m. UTC

Coinbase is teaming up with U.S.-based infrastructure provider Transaction Network Services (TNS) to enable faster, more efficient transactions on its derivatives exchange, the companies said Tuesday.

Coinbase unveiled the Derivatives Exchange (CDE), which is regulated by the Commodity Futures Trading Commission (CFTC), in June 2022 to attract more retail traders. Futures contracts require less upfront investment than traditional bitcoin futures products.

  • AAX Likely Moving Toward Legal Procedure, Former Exec Predicts
    01:01
    AAX Likely Moving Toward Legal Procedure, Former Exec Predicts
  • Speculation Keeps the Market Honest: Analyst
    01:00
    Speculation Keeps the Market Honest: Analyst
  • Traders Are 'Valuable Resource' for Crypto Market: Analyst
    06:08
    Traders Are 'Valuable Resource' for Crypto Market: Analyst
  • Coinbase Phasing Out ‘Coinbase Pro’ for ‘Advanced’ Mode in Main App
    06:52
    Coinbase Phasing Out ‘Coinbase Pro’ for ‘Advanced’ Mode in Main App
  • The cloud-based financial trading infrastructure deployed by TNS for the exchange will enable institutional investors to increase storage capabilities and process large data sets with minimal delay.

    “Crypto has witnessed both volatile and liquid markets, and with institutional adoption remaining strong, we believe the time is right for the offering that TNS brings to the table,” CDE CEO Boris Ilyevsky said. “Dedicated cloud infrastructure connectivity coupled with our derivatives exchange represents a mission-critical step toward supporting and maintaining a vibrant and reliable crypto derivatives market.”

    Crypto derivatives, such as futures and options, are a popular trading tool for investors looking to leverage or manage risk.

    Crypto exchange rival Gemini is reportedly looking to start an international crypto derivatives exchange that will specifically focus on perpetual futures, a type of derivative that is banned in the U.S. for retail traders.

    Disclosure

    Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

    CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by Block.one; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk employees, including journalists, may receive options in the Bullish group as part of their compensation.

    Helene Braun

    Helene is a New York-based reporter covering Wall Street, the rise of the spot bitcoin ETFs and crypto exchanges. She is also the co-host of CoinDesk's Markets Daily show. Helene is a graduate of New York University's business and economic reporting program and has appeared on CBS News, YahooFinance and Nasdaq TradeTalks. She holds BTC and ETH.