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ZEC $1,322 Coinbase to relaunch Coinbase Pro by year-end after Deribit integration
Coinbase says its Deribit integration is done, and its professional trading platform will return by year-end.
Key takeaways
- The base is large. Coinbase said the combined exchange carries more than $30 billion in Bitcoin options open interest, measured Sept. 30.
- Deribit's volume. Coinbase said Deribit processed more than $1 trillion in trading volume last year.
What happened
Coinbase said it has completed its integration of Deribit and created what it calls the Coinbase Global Exchange. The company plans to bring back Coinbase Pro by the end of this year as a platform for professional traders. Coinbase shared the news at the Token2049 Singapore event.
Coinbase said Pro will trade spot, futures, perpetuals, options and equities, as the professional platform inside what it calls the Everything Exchange. The company said Pro is being rebuilt for high-volume active traders, with faster order routing and improved execution flows. It gave no launch date beyond year-end and opened a waitlist.
Coinbase said US institutions can access Deribit's options and perpetual futures through Coinbase Prime via Coinbase Financial Markets, and onboarding is open now. It expects to launch crypto options, margin trading on spot markets and unified portfolios over the next few weeks. Its help page says options will reach eligible users in the Coinbase app starting in late October.
Why it matters
Coinbase said its futures commission merchant will connect US and international crypto derivatives markets into a single regulated liquidity pool, a step it called a first in market history. The company framed the change as a route for US clients that previously needed offshore entities, multiple counterparties and separate trading venues.
Coinbase said individual traders would no longer need VPNs to run complex strategies across multiple exchanges. US institutions gain a regulated path to Deribit options and perpetual futures through Coinbase Prime.
The relaunch follows a retreat from the original Pro brand. Coinbase shut down the original Coinbase Pro in 2022 after moving advanced trading into its main app, and the move to Coinbase Advanced was completed in November 2023.
What the data shows
Coinbase said the combined exchange carries more than $30 billion in Bitcoin options open interest, measured Sept. 30. It said Deribit processed more than $1 trillion in trading volume last year.
Coinbase announced the $2.9 billion Deribit deal in May 2025, while Blockonomi reported the company bought Deribit for about $2.9 billion in August 2025.
Background
In May of this year, the CFTC issued guidance that lets Coinbase Financial Markets connect US customers to overseas perpetual futures and options trading through Coinbase's Bermuda unit. Perpetuals trading that ran on Coinbase International Exchange moved to Deribit on Oct. 1. US retail traders are expected to get access to Deribit options later this year, around the same time Coinbase Pro is set to return.
What is still unclear
- Coinbase gave no launch date beyond year-end and opened a waitlist.
- The two reports give different months for the Deribit deal: Unchained says the $2.9 billion deal was announced in May 2025, and Blockonomi says Coinbase bought Deribit for about $2.9 billion in August 2025.
Questions readers ask
When will Coinbase Pro return?
Coinbase plans to bring back Coinbase Pro by the end of this year. It gave no launch date beyond year-end and opened a waitlist.
How much did Coinbase pay for Deribit?
Unchained reports a $2.9 billion deal announced in May 2025, and Blockonomi reports Coinbase bought Deribit for about $2.9 billion in August 2025.
Can US traders access Deribit options?
US institutions can access Deribit's options and perpetual futures through Coinbase Prime via Coinbase Financial Markets, with onboarding open now. US retail access is expected later this year.
