Coinbase Unifies Institutional Trading with Deribit Migration

Coinbase is preparing to migrate its institutional clients from International Exchange to Deribit, a process set to begin on September 9. This move comes roughly a year after Coinbase's acquisition of Deribit and marks a significant step towards consolidating derivatives trading onto a single platform.

The migration will result in the transfer of eligible accounts, balances, and positions from International Exchange to Deribit. Trading will be paused for approximately 30 minutes during the switch, with all open orders canceled before positions are recreated on the new platform at their current mark price.

Existing API keys will not carry over, and clients must generate new credentials beforehand. Additionally, margin loans must be closed prior to the migration date.