Coinbase to relaunch Pro, expands derivatives access through global exchange

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Coinbase Pro relaunch & expansion

Highlights

Coinbase will soon merge U.S. and global crypto derivatives into one regulated liquidity pool, following CFTC guidance from May.
Deribit integration enables U.S. institutional clients to trade options and perpetual futures via Coinbase Prime, with onboarding live and options trading imminent.
The relaunched Coinbase Pro features faster order routing, spot margin trading with up to 10x leverage, revised fee tiers starting at $10,000, and expanded advanced trading tools.

Platform rollout and derivatives integration

As reported by The Block, citing Coinbase, the exchange operator says Coinbase Financial Markets will soon connect U.S. and global crypto derivatives into a single regulated liquidity pool, following guidance issued by the Commodity Futures Trading Commission in May.

At the Token2049 event in Singapore, Coinbase says the completed Deribit integration will support the rollout of Deribit-powered options, spot margin and unified portfolios in the coming weeks. According to the company, the framework gives U.S. institutional clients a regulated route to access options and perpetual futures that previously required offshore entities, multiple counterparties and separate venues.

Eligible traders outside the U.S. are set to get access to options in the coming weeks, while U.S. retail traders are expected to gain access later this year. U.S. institutional clients will be able to trade Deribit options and perpetual futures through Coinbase Prime, with onboarding already open and options trading expected in the coming weeks.

Trading tools and market impact

Coinbase says institutional clients will be able to trade spot, futures, perpetuals and options on the same platform, alongside custody, financing and staking services. The company adds that the rebuilt Coinbase Pro is designed to offer faster order routing, improved execution flows and advanced tools for high-volume active traders using more complex strategies.

The original Coinbase Pro was shut down in 2022 after advanced trading functions were moved into the main Coinbase app, a transition that was completed with Coinbase Advanced in November 2023. Coinbase also says it is adding spot margin trading, allowing eligible traders to borrow against collateral for larger spot trades, with leverage of up to 10 times on selected major assets and up to five times on other supported assets.

The company has also introduced a new matching engine, shortened its onboarding process and revised fee tiers for Coinbase Advanced. The new fee structure starts at $10,000 in qualifying volume and includes both spot and derivatives trading, potentially broadening access for more active market participants.

Our earlier coverage examined the regulatory tension in Singapore around Hyperliquid Labs’ crypto perpetual futures, highlighting the Monetary Authority of Singapore’s warnings that it does not regulate the firm’s perps and is unaware of any major-jurisdiction licensing. We also outlined why perpetual futures are viewed as high-risk leveraged products and how mechanisms like funding rates are used to keep perp pricing aligned with spot markets.

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