Cryptocurrency exchange Coinbase has obtained approval from the National Futures Association (NFA) to offer investments in crypto futures to eligible customers in the United States.

Announcing the news on Aug. 16, Coinbase stated that the company is now officially allowed to operate a Futures Commission Merchant (FCM) platform.

The approval enables Coinbase to introduce Bitcoin (BTC) and Ether (ETH) futures contracts through its Commodity Futures Trading Commission (CFTC)-regulated derivatives exchange.

“This is a critical milestone that reaffirms our commitment to operate a regulated and compliant business and be the most trusted and secure crypto-native platform for our customers,” Coinbase said in the statement.

According to a notice on Coinbase’s cryptocurrency futures web page, the new futures trading service will not be immediately available in the United States.

“U.S. regulated futures trading is coming soon. Sign up to join the waitlist and get early access,” the company said on the website.

In the announcement, Coinbase claimed that the global crypto derivatives market accounts for 75% of crypto trading volume worldwide. “The ability to trade using margin gives customers leverage and access to the crypto market with less upfront investment than traditional spot trading,” the firm added.

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As previously reported, Coinbase officially announced plans to launch BTC and ETH futures trading for institutional investors in early June. Previously, Coinbase also planned to launch a derivatives exchange in Bermuda, marking a step in its global expansion strategy.

The news comes amid Coinbase’s ongoing legal battle against the U.S. Securities and Exchange Commission. The regulator filed a lawsuit against Coinbase in early June, alleging that the exchange violated local securities laws by selling unregistered securities.

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