Coinbase brings global crypto derivatives liquidity to US with Deribit integration

US institutions will gain access to Deribit’s options and perpetual futures through Coinbase, with US retail options expected later this year.

Coinbase has completed its integration of derivatives exchange Deribit, opening a regulated route for eligible US customers to global crypto derivatives markets that have historically operated beyond their reach.

The exchange announced Wednesday that the integration combines its international derivatives business with Deribit while allowing eligible US customers to access that liquidity through Coinbase Financial Markets, its derivatives unit regulated by the Commodity Futures Trading Commission (CFTC). Coinbase International Exchange balances and positions were migrated to Deribit on Oct. 1.

Crypto derivatives account for roughly 80% of global crypto trading volume, according to Coinbase, but US traders have historically lacked a regulated path to the deeper options and perpetual futures markets available offshore. This began to change in May, when the CFTC issued guidance allowing Coinbase Financial Markets to connect US clients to global derivatives markets.

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