Coinbase Shifts Institutional Clients to Deribit Ahead of September Migration

Coinbase is set to migrate its institutional clients from its International Exchange to Deribit, the world's largest crypto options exchange. The migration is scheduled for September 9 and will see trading paused for approximately 30 minutes.

During this time, all open orders will be canceled, and positions will be settled at the prevailing market price before being recreated on Deribit at the same reference price. Existing API keys and margin loans will not be transferred to the new platform.

Clients who choose not to migrate must close their positions and accounts by August 28. This marks a significant shift in Coinbase's operations, highlighting its commitment to adapting to changing market conditions and customer needs.