Coinbase set to acquire Dutch-born crypto derivatives exchange Deribit for €2.57B

On Thursday, Coinbase Global announced that it has signed an agreement to acquire Deribit, a crypto derivatives exchange, for approximately $2.9B (approximately €2.57B).

The transaction comprises $700M (approximately €622M) in cash and 11 million shares of Coinbase Class A common stock.

Founded by brothers John and Marius Jansen, Deribit is a cryptocurrency futures and options exchange.

Originally founded in the Netherlands, Deribit now has offices in several countries, with its headquarters located in Dubai, United Arab Emirates.

Deribit started as a fully dedicated BTC trading platform; however, since then, the range of products on offer has expanded considerably.

Coinbase x DeribitWhy this acquisition?

Deribit is the top player in crypto options, enhancing Coinbase’s offerings in US futures and international perpetual futures. This acquisition helps them to provide a platform for spot, futures, and options trading.

With this acquisition, Coinbase aims to become the global leader in crypto derivatives by open interest and options volume.

Deribit generated over $1T in trading volume last year, indicating strong demand from institutional traders.

“We believe crypto options are set for significant growth, and this positions us to lead that expansion,” says the company.

The acquisition of Deribit will also boost Coinbase’s profitability and diversify its trading revenues.

“Options trading is generally more stable, helping traders manage risk in varying market conditions. Deribit has a history of positive earnings, which we expect to enhance further together,” says the company.

Deribit’s acquisition helps Coinbase grow internationally. In the U.S., retail users can trade futures, while the international exchange offers spot trading and perpetual futures. 

This acquisition allows Coinbase to expand its reach and better serve institutional traders in the options market.

“We’re excited to join forces with Coinbase to power a new era in global crypto derivatives,” says Deribit CEO Luuk Strijers. “As the leading crypto options platform, we’ve built a strong, profitable business, and this acquisition will accelerate the foundation we laid while providing traders with even more opportunities across spot, futures, perpetuals, and options – all under one trusted brand. Together with Coinbase, we’re set to shape the future of the global crypto derivatives market.”

The deal is anticipated to close by the end of the year, pending regulatory approvals.