Coinbase has agreed to acquire Crypto Derivatives Platform Deribit on a contract worth approximately $2.9 billion.
A mixed cash and Coinbase inventory agreement marks the largest acquisition in the company’s history.
DeRibit confirmed its acquisition on X (formerly Twitter) today, May 8th.
“We are excited to join forces with Coinbase to promote a new era of global crypto derivatives.
This acquisition accelerates the foundation we have built. This brings spots, futures, PERP and options under one trusted brand. ”
According to Wall Street Journalthe transaction is in its final stage following several months of discussion. Coinbase aims to solidify its position in cryptographic derivatives. A large portion of the global crypto trading volume every day.
Delibit processed approximately $1.2 trillion in total in 2024.
The Dubai-based entity in Delibit holds a full license from the Virtual Asset Regulator (VARA), which was acquired in late 2024 after migrating operations from Panama. This license grants the company the legal supervisor to provide crypto derivative transactions to institutions and qualified investors. The acquisition requires regulatory approval to transfer the license to Coinbase, adding complexity to the transaction.
Coinbase has steadily expanded to derivatives over the past three years. After acquiring Fairx to provide CFTC-regulated futures products in the US, we launched Coinbase International Exchange to enable permanent futures trading outside of the domestic market. Buying a Delibit will quickly track your efforts to expand your global derivative footprint, but this is still slowing offshore rivalry.
In March, Bloomberg reported that Coinbase was pursuing a deal amid new optimism surrounding US crypto regulations.
Political signals from Washington promote a more friendly environment, and derivative exchanges seek to leverage the clarity of potential regulations. Competitors like Kraken are moving as well, agreeing to acquire Futures Broker Ninjatrader for $1.5 billion earlier this year.
Delibit CEO Luuk Strijers said in January that the exchange was not officially sold, but it recognized interest from multiple parties due to its market-leading status. As of May, sources have indicated that final regulatory measures remain before the contract closes, but the terms have largely been agreed.
With periodically pending approvals, the acquisition of DELIBIT provides Coinbase with an established engine for derivative liquidity and access to licensed offshore exchanges to professional investors.
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