Coinbase said on Aug. 4 that institutional International Exchange accounts, balances and positions will be moved to Deribit on Sept. 9, with the transition expected to take about 30 minutes. As part of the move, existing positions will be forcibly settled and reopened, while any outstanding margin loans must be closed in advance. Historical data will remain available, but users will need to generate new API keys after the migration. Institutional clients that do not want to participate must close their positions and shut their International Exchange accounts by Aug. 28. Accounts that remain open past that deadline will be migrated automatically. Coinbase said the change folds part of its institutional derivatives trading infrastructure into Deribit. The notice also noted that Deribit has long held a leading position in the crypto options market, and that Coinbase had already been working with Deribit on clearing and liquidity.
Coinbase said on Aug. 4 that its institutional International Exchange accounts, balances and positions will be formally migrated to Deribit on Sept. 9. The company said the full switch is expected to be completed in about 30 minutes.
Under the migration plan, existing positions will be forcibly settled and then re-established. Any current margin loans must be closed ahead of the transfer. Historical data will be retained, but users will need to generate new API keys.
Institutional clients that do not want to join the migration must close their positions and their International Exchange accounts by Aug. 28 to exit. Accounts that are not closed by that deadline will be migrated automatically.
Coinbase said the move shifts part of its institutional derivatives trading infrastructure onto Deribit. BlockBeats noted that Deribit has long dominated the cryptocurrency options market. Coinbase had previously worked with Deribit on clearing and liquidity.
This article was originally published by Bit.Fan. For more cryptocurrency news and market insights, visit www.bit.fan. Disclaimer:
The market information, project data, and third-party content displayed on this platform are for industry information sharing only and do not constitute any form of investment advice or return commitment.
Cryptocurrency trading carries high risks. Users should fully assess their risk tolerance and make independent decisions. All profits, losses, and legal responsibilities are borne by the users themselves.
