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Coinbase announced on Wednesday that it has completed the integration of Deribit and officially launched Coinbase Global Exchange. The combined trading platform is about to connect U.S. and global derivatives markets to form a unified regulated liquidity pool, providing traders with more than US$30 billion in open exposure to bitcoin options.
Spot margin trading and options trading with a maximum leverage of 10 times will be open to qualified traders outside the United States in the coming weeks, while the Coinbase Pro platform is expected to be back online before the end of the year.
New opportunities for traders from Coinbase Global Exchange
This integration will introduce new products to Coinbase Advanced and Coinbase Prime in the coming weeks. According to Coinbase's announcement, the platform will gradually launch cryptocurrency options, a unified investment portfolio that supports cross-asset margins, and spot margin trading services. Among them, the leverage multiple of main assets can be up to 10 times, and the leverage multiple of other supporting assets can be up to 5 times.
Options trading will first be open to qualified traders outside the United States, and access for U.S. retail users will be available later this year. The company stated that except for eligible contract participants, spot margin trading is temporarily not available in the United States.
In addition, Coinbase plans to restart a brand that was phased out in 2022 and closed in November 2023. The company pointed out: "By the end of this year, Coinbase Pro will return as the exclusive professional platform within the 'Everything Exchange'." The platform has been rebuilt with a faster order routing system and is designed for traders with large high-frequency trading volumes.
The company also emphasized that its derivatives market has been driven by a new high-performance matching engine and updated fee levels for Coinbase Advanced traders, starting with a $10,000 trading volume qualification threshold.
Deribit acquisition lays the foundation for Coinbase's derivatives business
This release marks the successful conclusion of a series of processes since Coinbase completed its acquisition of Deribit in August 2025. Coinbase said that with the U.S. Commodity Futures Trading Commission (CFTC) issuing guidance in May 2026 allowing its subsidiary Coinbase Financial Markets to become the first and only regulated futures commission trader (FCM) capable of connecting U.S. customers to global cryptocurrency derivative liquidity, interconnection between U.S. global markets has become possible.
Coinbase has been expanding its derivatives product line in recent weeks. In September this year, the company launched regulated cryptocurrency futures in Canada that support 10 times leverage and submitted an application with the U.S. Securities and Exchange Commission (SEC) to list 24/7 shares of an equity perpetual contract in the United States.
公司将这一愿景称为“Everything Exchange”，旨在让任何交易者都能在一个平台上访问所有金融工具。与此同时，衍生品交易量竞争日益激烈，Robinhood上周在其HOOD峰会上也公布了加密货币永续合约产品。
