Rates Exchange secures strategic investment from Coinbase Ventures

On-chain order book-based interest-rate derivatives trading platform Rates Exchange announced it has secured a strategic investment from Coinbase Ventures, the venture capital arm of the largest U.S. cryptocurrency exchange. The investment amount was not disclosed.

Rates Exchange said it provides infrastructure that allows DeFi and traditional finance participants to trade and hedge a range of interest-rate risks on-chain through a real-time order book. The platform currently supports its core interest rate swap, or IRS, service and plans to expand its derivatives lineup to include computing power swaps for compute trading, decentralized foreign exchange swaps, and fixed-rate equity options.