Coinbase said it has completed the integration of Deribit, the crypto options exchange it acquired last year, and plans to relaunch its Pro platform before the end of this year.
The company said the integration has created Coinbase Global Exchange. Its U.S.-regulated futures commission merchant, Coinbase Financial Markets, will soon connect eligible U.S. clients to global crypto derivatives liquidity.
Regulated access to Deribit options and perpetuals
Speaking at Token2049 in Singapore, Coinbase said: "This is the first time in market history that we are connecting the U.S. and international derivatives markets into a single liquidity pool. With the integration complete, we will begin rolling out Deribit-powered options, spot margin trading, and unified portfolio accounts in the coming weeks."
Coinbase said guidance issued by the U.S. Commodity Futures Trading Commission in May allows Coinbase Financial Markets to connect U.S. clients to global crypto derivatives markets. According to the company, that creates a regulated route for U.S. institutional clients to trade options and perpetual contracts, whereas participating in those markets previously required offshore entities, multiple counterparties, and activity across separate venues.
Eligible U.S. institutional clients will be able to trade Deribit options and perpetuals through Coinbase Prime. Account opening is already available, and options trading is expected to launch in the coming weeks.
Coinbase also said eligible traders outside the U.S. will receive options access in the coming weeks, while U.S. retail traders are expected to receive access later this year.
The company said institutional clients will be able to trade spot, futures, perpetuals, and options on one platform, while also using custody, financing, and staking services.
Acquisition details and Deribit metrics
Coinbase acquired Deribit in August 2025 for about $2.9 billion. The company described Deribit as one of the world’s largest crypto options exchanges.
As of Sept. 30, Deribit had more than $30 billion in open interest in Bitcoin options, and processed more than $1 trillion in trading volume last year, Coinbase said.
Coinbase Pro returns and spot margin trading is next
Coinbase said: "The rebuilt Coinbase Pro will offer faster order routing, smoother execution, and advanced tools designed for high-volume active traders, helping them execute complex strategies across every market we support."
The company shut down the original Coinbase Pro in 2022 after moving advanced trading features into its main app. The migration to Coinbase Advanced was completed in November 2023.
Coinbase also said it will introduce spot margin trading, allowing eligible traders to borrow against collateral to increase spot exposure. Leverage will reach as high as 10x for some major assets and up to 5x for other supported assets.
In addition, Coinbase said it has launched a new matching engine for Coinbase Advanced, shortened the account opening process, and revised its fee tiers. The new fee schedule starts at $10,000 in qualifying trading volume, with both spot and derivatives volume counted toward that threshold.