Coinbase combines its international derivatives business with Deribit and opens a US institutional route

Coinbase/Coinbase derivatives (incl. Deribit)

On October 7, 2026 Coinbase said it had combined its international derivatives business with Deribit, which it bought for $2.9 billion in August 2025. Accounts, balances and positions moved to Deribit on October 1. Coinbase says derivatives make up roughly 80% of global crypto trading volume.

• Open perpetual positions were settled at the mark price and recreated through matched trades; the migration took about 60 minutes and carried no fees.
• Eligible US institutions can reach Deribit options through their existing Coinbase Prime relationship; Prime onboarding is open now, and institutional options access is due in the coming weeks.
• Options are planned for eligible non-US retail customers in the coming weeks, and American retail access is scheduled for a later phase in 2026.
• The US route relies on May CFTC staff relief, which the article describes as staff relief rather than a formal rule; it gives no leverage or collateral figures for Deribit products.