Coinbase Unifies Derivatives Trading on Single Platform with September 9 Migration
Coinbase is set to migrate its institutional clients from International Exchange to Deribit on September 9. This move comes roughly a year after Coinbase's acquisition of Deribit, which made it the largest crypto options exchange by volume.
The migration aims to consolidate institutional derivatives trading onto a single platform, improving liquidity and infrastructure for eligible clients. According to an official support notice, the exchange plans to transfer eligible accounts, balances, and positions as part of the platform consolidation.
For institutional users, this means their accounts will be paused for about 30 minutes during the switch, with open orders canceled before positions are recreated on the new platform at mark price. Fresh API keys will also be required, as old ones won't carry over.