Coinbase Derivatives has taken a significant step by filing with the US Commodity Futures Trading Commission to launch futures contracts for Ripple’s XRP token. Scheduled to start trading on April 21 the futures are designed to be a regulated cost-effective way for investors to engage with one of the most liquid digital currencies. Each contract representing 10,000 XRP will be cash-settled and based on the token’s price in US dollars.

Expanding their futures offerings the move is aligned with Coinbase’s strategy to bridge the gap between cryptocurrency and traditional futures markets. Following the successful introduction of Solana and Hedera futures Coinbase’s addition of XRP contracts underscores their commitment to providing comprehensive trading solutions on a regulated platform.

The new futures will be offered alongside existing products on several of the world’s top crypto exchanges. Although not the first in the US to offer XRP futures with Chicago-based Bitnomial leading the charge last month Coinbase has engaged with Futures Commission Merchants and market players who have shown support for this innovative financial instrument.