Coinbase said it has completed its integration of Deribit and is now calling the combined venue the Coinbase Global Exchange. The company said the exchange carried more than $30 billion in Bitcoin options open interest as of Sept. 30, and that traders will soon be able to tap into that liquidity.
Coinbase also said Deribit processed more than $1 trillion in trading volume last year. It added that Coinbase Financial Markets, its futures commission merchant, will soon connect U.S. and international crypto derivatives markets into a single regulated liquidity pool, which the company described as a first in market history.
For individual traders, Coinbase said the days of relying on VPNs to run complex strategies across multiple exchanges are over.
What rolls out over the next few weeks
Coinbase said it expects to launch crypto options, spot margin trading, and unified portfolios in the coming weeks.
According to the company, U.S. institutions will be able to access Deribit options and perpetual futures through Coinbase Prime via Coinbase Financial Markets. Onboarding is already open, and options on Prime are scheduled to arrive in the coming weeks.
Options for eligible traders outside the U.S. are also set to roll out in the coming weeks. Retail access to options in the U.S. is planned for later this year. Coinbase’s help page says options will begin reaching eligible users in the Coinbase app starting in late October.
Under the spot margin product, Coinbase said maximum leverage will be 10x for selected major assets and 5x for other assets. Traders will be able to post collateral in more than 15 supported assets.
The company said a new matching engine, a streamlined retail onboarding flow, and updated Coinbase Advanced fee tiers are already live. Those fee tiers begin at $10,000 in qualifying volume.
Coinbase Pro to return by year-end
Coinbase said Coinbase Pro will return as the professional trading platform inside what it calls the Everything Exchange. The platform is expected to support spot, futures, perpetuals, options, and equities.
The company said Pro is being rebuilt for high-volume active traders, with faster order routing and improved execution flows. It did not provide a more specific launch date beyond year-end, but it has opened a waitlist.
How the rollout took shape
Coinbase announced its $2.9 billion deal for Deribit in May 2025. According to its help page, perpetuals trading that had been running on Coinbase International Exchange moved to Deribit on Oct. 1.
Coinbase also said the U.S. Commodity Futures Trading Commission, or CFTC, issued guidance in May this year that allows Coinbase Financial Markets to connect U.S. customers to overseas perpetual futures and options markets through Coinbase’s Bermuda unit. The company said that guidance gave U.S. traders a regulated route into those markets.