Coinbase Launches Global Exchange with Deribit Integration
Coinbase is taking a major step toward creating what it calls the Everything Exchange, a platform where traders worldwide can access every financial instrument and market through regulated infrastructure. The company has completed its integration with Deribit, forming the Coinbase Global Exchange. This integration provides access to over $30 billion in Bitcoin options open interest and more than $1 trillion in annual trading volume, connecting U.S. and international derivatives markets into a single liquidity pool.
Key updates include Deribit-powered options, spot margin, and unified portfolios, which will roll out in the coming weeks. These features offer institutional-grade capabilities like cross-portfolio risk modeling, multi-asset margin offsets, and single-step options execution. Coinbase has also streamlined its retail onboarding process, improved its matching engine, and introduced new fee tiers for active traders.
For U.S. institutional clients, Coinbase Prime now allows access to Deribit’s full options suite and perpetual futures through a single account, simplifying compliance and risk management. Individual traders can also benefit from a unified account experience, with all derivatives living together and cross-portfolio margin reducing collateral requirements. The platform includes tools like a strategy builder and payoff diagrams to support complex trading strategies.
Additional improvements include spot margin, allowing eligible traders to borrow against collateral with leverage up to 10x on major assets. The company’s new high-performance matching engine supports global, unified exchange demands. Coinbase Pro is set to return by the end of the year as a dedicated professional platform, offering faster order routing and advanced tools for high-volume traders.