Coinbase Migrates Institutional Clients to Deribit

Coinbase is migrating its institutional clients' International Exchange accounts to Deribit on September 9, with trading expected to pause for about 30 minutes. The migration will transfer balances and open positions from Coinbase's International Exchange to Deribit.

Clients who decline the transfer must close their positions and accounts before August 28, the opt-out deadline set by Coinbase. After this date, any remaining accounts will be treated as having accepted the updated terms and migration.

The migration is part of Coinbase's effort to consolidate its international derivatives operations under Deribit, which was acquired in August 2025 for approximately $2.9 billion. Deribit is currently the largest crypto options exchange by volume and open interest, with around $60 billion in open interest and over $185 billion in trading volume in July 2025.