Coinbase to acquire Deribit options trading platform
Coinbase to acquire Deribit for $2.9B, expanding global derivatives reach.
Coinbase, the largest US-based cryptocurrency exchange by trading volume, announced on May 8 its agreement to acquire Deribit, a leading crypto derivatives platform, for approximately $2.9 billion.
The acquisition will consist of $700 million in cash and 11 million shares of Coinbase Class A common stock, reports Cointelegraph.
Greg Tusar, Coinbase’s vice president of institutional product, emphasized that the deal will strengthen Coinbase’s international expansion strategy and provide access to Deribit’s professional client base.
Regulatory Approvals and Market Implications
The transaction is subject to regulatory approvals and is expected to close by the end of the year. In March, reports indicated that Coinbase and Deribit had informed regulators in Dubai about the potential acquisition, as Deribit holds a license in the region.
The move is part of Coinbase’s broader strategy to position itself more firmly in the global derivatives market, a segment where Deribit has maintained a strong presence.
Valuation and Market Impact
Previous reports estimated Deribit’s valuation at $4–5 billion, higher than the agreed acquisition price. Coinbase’s acquisition could significantly alter the competitive landscape of the derivatives market, giving the exchange increased leverage to tap into global trading volumes.
If approved, the acquisition could also facilitate Coinbase’s entry into the lucrative derivatives sector, an area largely dominated by offshore exchanges.
Recently we wrote that Visa has made a strategic investment in BVNK, a London-based fintech startup specializing in stablecoin-based payment infrastructure, as part of its broader push to modernize cross-border transactions.
