Coinbase Migrates Institutional Clients to Deribit on September 9

Coinbase is consolidating its global derivatives operations by migrating institutional clients' International Exchange accounts to Deribit, effective September 9. The migration will transfer balances and open positions to Deribit, with trading expected to pause for approximately 30 minutes as orders are canceled, settled, and recreated at the same settlement prices. Institutions that decline the migration must close their positions and accounts before August 28. Existing International Exchange API keys and margin loans will not be transferred and must be replaced with new credentials and financing arrangements on Deribit. The migration is expected to simplify Coinbase's international derivatives infrastructure and expand product coverage, with participating institutions needing to confirm Deribit access, preserve historical records, and prepare for the estimated September 9 trading interruption.