Coinbase announced Thursday that it has struck a deal to acquire Deribit, one of the largest crypto options exchanges, in a $2.9 billion deal as it seeks to become the leading global platform for crypto derivatives.
Coinbase to Acquire Crypto Options Exchange Deribit for $2.9bn
The acquisition will see Coinbase pay $700 million in cash and issue 11 million shares of its Class A stock. The deal is expected to close by the end of 2025.
Deribit has roughly $30 billion in open interest and processed more than $1 trillion in trading volume last year in its key markets, largely from institutional and professional clients outside the United States.
Coinbase said the options platform will complement its existing futures and perpetuals business, expanding the exchange’s global footprint.
“This acquisition will accelerate the foundation we laid while providing traders with even more opportunities across spot, futures, perpetuals, and options – all under one trusted brand,” said Deribit CEO Luuk Strijers.
Coinbase said the move would immediately strengthen profitability and diversify trading revenue, as options products are less cyclical than spot trading.
The exchange expects crypto options to see growth similar to the equity options boom of the 1990s.
