Coinbase, one of the leading cryptocurrency exchanges, has officially completed the acquisition of the Deribit platform for $2.9 billion — the largest trading venue for cryptocurrency options in the world. In 2024, trading volume on Deribit exceeded $1 trillion, highlighting the platform’s leading role in the derivatives market.
This is reported by Business • Media
Purpose of the Acquisition and Coinbase’s Development Strategy
With this deal, Coinbase aims to expand its range of services and strengthen its international presence. The company emphasizes that Deribit has a strong base of institutional and experienced traders. This allows the exchange to become a comprehensive hub for digital asset trading and enhance its position in the derivatives sector.
“In addition to a wide range of products, it enables us to scale globally, providing broader participation and higher liquidity. And this comes at the perfect time,” the company’s press release states.
Expanding the Ecosystem and Competing with Market Leaders
The acquisition of Deribit marks Coinbase’s sixth major operation in 2025. Previously, players such as the advertising blockchain platform Spindle, the Roam browser team, and the early-stage token management startup Liquifi joined the company’s ecosystem. All these steps are aimed at creating comprehensive services for various user groups and enhancing competitiveness in the global market.
Coinbase is actively developing its prime brokerage services, perpetual futures platform, spot trading, institutional lending, and asset custody. This allows the company to compete with giants like Kraken and Binance, which are also expanding their presence through the launch of new products and acquisitions.
Among competitors, for example, in May 2025, Kraken launched trading of tokenized stocks for non-residents of the U.S., while Robinhood introduced an L2 blockchain for digital securities transactions in Europe. Binance, for its part, has been actively acquiring wallets, analytical platforms, and other exchanges since 2018, offering a full range of cryptocurrency services, including derivatives and platforms for launching new tokens.
Coinbase expects that the acquisition of Deribit will significantly enhance its appeal to institutional clients who value a wide selection of tools and reliable trading opportunities.