Coinbase Completes Deribit Integration to Open Global Crypto Derivatives to US Clients

Coinbase has finished folding Deribit into its international derivatives business, giving eligible US customers a regulated way into global crypto derivatives markets that were long out of their reach. Access runs through Coinbase Financial Markets, the company’s derivatives arm overseen by the CFTC. Balances and positions on Coinbase International Exchange were moved to Deribit on Oct. 1. The company announced the news on Wednesday.

Why US Traders Lacked Access to Crypto Derivatives

Coinbase says derivatives make up around 80% of all crypto trading volume, yet American traders had no regulated path into the deeper options and perpetual futures markets found offshore. That began to shift in May, when CFTC guidance let Coinbase Financial Markets link US clients to global derivatives venues. Before that, institutions usually had to set up offshore entities and run a separate trading system to reach the same liquidity.

Deribit Options and Perpetual Futures for US Institutions

US institutional clients can now reach Deribit’s options and perpetual futures through Coinbase Prime and Coinbase Financial Markets. Options on Coinbase Prime should arrive in the coming weeks.

Over that same stretch, Coinbase plans to launch options for eligible non-US retail traders. US retail access is expected later this year.