The largest American crypto exchange in terms of trading volume, Coinbase, has signed an agreement to acquire the Deribit crypto derivatives trading platform in Dubai for $2.9 billion. This is reported in a Coinbase press release.
The financing of the transaction provides for the payment of $700 million in cash and 11 million ordinary shares of Coinbase Class A.
The deal includes the transfer of the Deribit license in Dubai to Coinbase and aims to strategically strengthen Coinbase's position in the derivatives market by providing traders with access to spot trading, futures, perpetual futures and options on one cost-effective platform.
Upon completion of the transaction, Coinbase can become a global leader in the cryptocurrency derivatives sector due to the trading volume of Deribit, which exceeded $1.2 trillion in 2024. Currently, Coinbase offers derivatives outside the United States through a Bermuda-based marketplace that it launched in 2023, but its trading business is primarily focused on spot trading.
The deal is expected to be completed at the end of 2025, subject to approval by U.S. regulators. The deal corresponds to significant changes in the attitude of the American government towards cryptocurrency against the background of a loyal regulatory environment, causing a sharp increase in acquisitions in the crypto industry.
Coinbase is one of the largest cryptocurrency exchanges in the world. The platform offers services for the purchase, sale, trading and storage of more than 200 cryptocurrencies and actively works with fiat currencies. The exchange was established in San Francisco (California) in 2012.
Deribit is one of the largest specialized cryptocurrency derivatives exchanges owned by the Dutch company Deribit BV. The company's early sponsors included the crypto investment company XBTO and the investment company 10T Holdings. On January 1, 2025, Deribit launched spot asset and derivatives trading in the UAE, moving all operations to Dubai.
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