Coinbase Pro to return; Deribit integration creates Coinbase Global Exchange

Crypto exchange operator Coinbase is set to bring back its Pro platform by the end of this year and has completed the integration of Deribit, which it acquired last year.

Coinbase said the integration has created Coinbase Global Exchange. Coinbase Financial Markets, its U.S.-regulated futures commission merchant, will soon connect eligible U.S. clients to global crypto derivatives liquidity.

"For the first time in market history, we are connecting U.S. and international derivatives markets into a single liquidity pool," Coinbase announced at the Token2049 Singapore event. "With this integration complete, we will be rolling out Deribit-powered options, spot margin, and unified portfolios in the coming weeks."

Coinbase said guidance issued by the Commodity Futures Trading Commission in May allows Coinbase Financial Markets to connect U.S. clients with global crypto derivatives markets. According to the company, this gives U.S. institutional clients a regulated way to access options and perpetual futures that previously required offshore entities, multiple counterparties and separate trading venues.

Coinbase said eligible traders outside the U.S. will get access to options in the coming weeks. U.S. retail traders are expected to get access later this year.

U.S. institutional clients will be able to trade Deribit options and perpetual futures through Coinbase Prime. Onboarding is open, with options trading expected in the coming weeks.

Coinbase said institutional clients will be able to trade spot, futures, perpetuals and options, as well as use custody, financing and staking, through the same platform.

Coinbase acquired Deribit, one of the world's largest crypto options exchanges, for about $2.9 billion in August 2025. Deribit had more than $30 billion in bitcoin options open interest as of Sept. 30 and processed over $1 trillion in trading volume last year, Coinbase said.

Coinbase Pro returns, spot margin coming

"Rebuilt from the ground up, Coinbase Pro will deliver faster order routing, improved execution flows, and advanced tools designed specifically for high-volume active traders executing complex strategies across every market we support," Coinbase said.

The company shut down the original Coinbase Pro in 2022 after moving advanced trading into its main app. The move to Coinbase Advanced was completed in November 2023.

Coinbase said it will also add spot margin trading to let eligible traders borrow against their collateral to make larger spot trades, with leverage of up to 10 times on selected major assets and up to five times on other supported assets.

Coinbase has also added a new matching engine, shortened its onboarding process and changed fee tiers for Coinbase Advanced. The new fee tiers start at $10,000 in qualifying volume and count both spot and derivatives trading.

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