Coinbase Institutional Clients Migrate to Deribit Ahead of September Cutover

Coinbase has announced plans to migrate its institutional clients from its own exchange to Deribit, the world's largest crypto options exchange. This migration is set to take place on September 9, with trading expected to pause for approximately 30 minutes while positions are settled and recreated at the prevailing mark price.

Clients who choose not to migrate will need to close their positions and accounts by August 28. API keys and margin loans will also not be transferred as part of the migration process.

This move is aimed at providing institutional clients with more advanced trading tools and features, which Deribit offers.