Coinbase to Acquire Deribit Exchange for $2.9 Billion

Coinbase Global Inc. has announced its biggest acquisition so far. According to the Wall Street Journal’s report, the company will acquire Deribit, a cryptocurrency futures and options exchange, for $2.9 billion. This deal includes $700 million in cash and 11 million Coinbase Class A common stock shares. 

Coinbase Acquisition Brings Lots of Benefits 

The Dubai-based Deribit specializes in trading options, futures, and spot trading for cryptocurrencies, including Bitcoin (BTC) and Ethereum (ETH). In 2024, Deribit’s trading volume nearly doubled to $1.2 trillion, mainly because more institutional investors got involved. As such, this acquisition is an essential step for Coinbase as it enters the profitable crypto derivatives market. 

Meanwhile, the acquisition happens amid a surge in crypto-industry deal-making, driven by a favorable regulatory environment under President Trump’s administration. It is worth noting that Coinbase plans to use this acquisition to expand globally and take advantage of the increase in crypto trading activity. If the deal goes through, Coinbase would transfer Deribit’s operating license to the US.

Notably, this potential deal shows growing interest in the increasingly competitive crypto derivative market. Kraken, a leading asset manager, has also entered this space. The company recently acquired NinjaTrader in a deal worth $1.5 billion.

Deribit Looks to Enter the US Market

Recently, the world’s largest crypto options exchange started considering expanding its operations into the U.S. market. Last year, the company processed $1.3 trillion in notional volume. However, the exchange is now looking beyond its Dubai base to explore new opportunities in the United States.

Deribit’s CEO, Luuk Strijers, revealed why the exchange is considering entering the US market. Strijers believes that the US is becoming more supportive of the crypto industry, as there have been recent changes in the country’s crypto regulations. 

However, these relaxed crypto rules come after crypto firms in the country have faced challenges over the past few years.

Sygnum Bank Integrates Deribit in Expansion Move

Recall that crypto-friendly financial institution Sygnum Bank expanded its business by integrating Deribit into its custody platform. 

This move is significant as it presents institutional clients with the avenue to store their assets in a regulated bank. Likewise, the clients would enjoy direct access to Deribit’s liquidity.

As reported by TheCoinRise, both entities will leverage Fireblocks’ “Off-Exchange” service. With this service, traders can “mirror” their assets held in custody on a trading platform. Meanwhile, Deribit sees this integration as an opportunity to provide additional security and transparency to institutional clients.