Coinbase buys crypto futures exchange FairX

Cryptocurrency exchange Coinbase is buying a crypto futures exchange, FairX.

Coinbase bought FairX as part of a move to offer crypto derivatives to traders in the United States.

FairX, which was launched last year, is the operating name of LMX Labs.

FairX sells futures products and is regulated by the U.S. Commodity Futures Trading Commission (CFTC).

Coinbase wants to make trading of regulated crypto derivatives accessible to retail and institutional customers.

Crypto futures and options products, especially those offered by regulated platforms, are widely seen as less risky than buying and selling cash trading.

The deal is expected to close in the first quarter.