Coinbase Completes Deribit Integration as Crypto Options Expand

Coinbase finishes up integration with Deribit and establishes its Global Exchange.
Deribit has more than $30 billion in open interest of Bitcoin options.
It is expected that the crypto options will be offered shortly to eligible US and global traders.
Spot margin will offer up to 10x leverage on selected major assets.
Coinbase has completed its Deribit integration, expanding its global derivatives business and preparing broader options access across key markets. Coinbase shares traded near $179.34 on October 7, down from the previous close of $185.74. The move strengthens Coinbase’s push to combine spot, options, futures, perpetuals, and equities within one trading ecosystem.
The expansion marks another step in Coinbase’s effort to build a broader regulated trading network across several markets. Deribit adds established options liquidity, while Coinbase contributes US regulatory access and its existing institutional client infrastructure. Together, the businesses give Coinbase a larger role in global crypto derivatives after years centered mainly on spot trading.

Deribit Integration Creates Coinbase Global Exchange

The completed integration creates the Coinbase Global Exchange and combines Coinbase’s international derivatives operations with Deribit’s established market infrastructure. Coinbase said the combined platform holds more than $30 billion in Bitcoin options open interest. Deribit also processed more than $1 trillion in trading volume during the previous year, according to Coinbase’s official announcement.
Coinbase plans to connect American and international derivatives markets through Coinbase Financial Markets, its regulated futures commission merchant. The structure will place eligible clients within a single regulated liquidity pool covering several crypto derivatives products. Coinbase International Exchange balances and positions already moved to Deribit on October 1.
The integration follows Coinbase’s $2.9 billion agreement to acquire Deribit, which the company announced in May 2025. The transaction strengthened Coinbase’s position in options while adding Deribit’s established institutional and professional trading base. It also expanded Coinbase beyond its traditional spot-focused business into a broader global derivatives operation.

Crypto Options Access Expands Across Major Markets

Coinbase plans to introduce Deribit-powered crypto options, spot margin, and unified portfolios during the coming weeks. US institutional clients can access Deribit options and perpetual futures through Coinbase Prime and Coinbase Financial Markets. Onboarding has opened, while options through Coinbase Prime are scheduled to arrive during the coming weeks.
Eligible retail traders outside the United States will receive options access during the same general rollout period. Coinbase plans to extend options access to eligible US retail customers later this year. Its help page indicates eligible Coinbase app users could begin receiving options access from late October.
The expansion follows CFTC guidance issued in May 2026 covering access to overseas crypto derivatives markets. That guidance allowed Coinbase Financial Markets to connect eligible US clients with global options and perpetual futures liquidity. The CFTC’s official release outlined the regulatory framework covering foreign futures and options positions.

Spot Margin and Coinbase Pro Broaden Trading Platform

Coinbase will introduce spot margin with leverage reaching 10x on selected major assets and 5x on other supported assets. Customers can post collateral with over 15 assets, and see loan balances and margin health. Unified portfolios will group together derivatives and margin positions and allow traders to better manage their leveraged exposure from a single account.
Coinbase Advanced has also received a new matching engine, streamlined onboarding, and revised fee tiers for active traders. Updated fee levels begin at $10,000 in qualifying volume across spot and derivatives trading. The platform also adds cross-portfolio risk tools, multi-asset margin offsets, and single-step options execution features.
Coinbase Pro will return by year-end as the dedicated professional platform within the company’s Everything Exchange strategy. The rebuilt service will support spot, futures, perpetuals, options, and equities with faster routing and improved execution flows. Coinbase has opened a waitlist, but it has not announced a more specific launch date.