Coinbase backs Kemet to expand institutional access to derivatives markets

Coinbase has partnered with Kemet to expand institutional access to its trading venues, adding Coinbase Exchange, Coinbase Derivatives Exchange, Coinbase International Exchange, and Deribit to Kemet’s platform. Coinbase Ventures also made a strategic investment in Kemet to support the partnership over the long term.

Kemet provides order and execution management and portfolio management tools for crypto derivatives traders. Its platform supports multi leg options strategies, smart order routing, automatic delta hedging, and spread trading algorithms, giving institutional desks a single interface to route trades across spot, futures, and options markets.

The deal strengthens Coinbase’s push into institutional derivatives after its acquisition of Deribit, which closed in August 2025. Coinbase said Deribit handled more than $185 billion in volume in July 2025 and had about $60 billion in open interest at the time, giving Coinbase a major foothold in crypto options.

Coinbase had announced the Deribit acquisition in May 2025, describing the deal as a step toward offering spot, futures, perpetual futures, and options trading through a more unified platform. The deal was valued at $2.9 billion, including $700 million in cash and 11 million Coinbase shares.

The Kemet integration extends that strategy into trading infrastructure. Rather than only expanding the products institutions can trade, Coinbase is also trying to improve how desks access liquidity, execute complex strategies, and manage risk across multiple venues.

Disclosure: This article was edited by Estefano Gomez. For more information on how we create and review content, see our Editorial Policy.