Coinbase Taps Deribit Matching Engine for Faster Execution and Deeper Liquidity

Coinbase has upgraded its transaction capacity with a new Deribit matching engine that can process over 100,000 transactions per second.

The engine, which is expected to improve execution speed and liquidity, was rolled out on dedicated infrastructure and will execute trades in under one millisecond.

Coinbase aims to use the new engine as a foundation for increased institutional flow and tighter markets, targeting deeper liquidity and lower latency.

Despite the upgrade, base transaction activity remains at monthly lows, with daily active addresses on Coinbase's L2 dropping to an all-time low of 3.6K in July.