Coinbase Is Building the Most Complete Trading Platform

In pursuit of our mission to increase economic freedom globally, we are giving more people greater access to participate in the global economy, regardless of where they live.

Our vision for the Everything Exchange is a direct extension of this mission: one platform where any trader, anywhere, can access every instrument and every market backed by regulated infrastructure they can trust. We have been relentlessly building toward this milestone by deepening liquidity, offering new asset classes, expanding globally, and strengthening the platform's foundations with every step.

Today we take another big step forward. Our integration of Deribit is complete, creating the Coinbase Global Exchange and soon giving traders access to liquidity holding over $30 billion in Bitcoin options open interest (as of September 30), and processing more than $1 trillion in trading volume last year. 

For the first time in market history, we are connecting US and international derivatives markets into a single liquidity pool. With this integration complete, we will be rolling out Deribit-powered options, spot margin, and unified portfolios in the coming weeks. These updates deliver institutional-grade capabilities, including cross-portfolio risk modeling, multi-asset margin offsets, and single-step options execution, directly to your account.

And with a newly streamlined retail onboarding flow, a new matching engine, and improved fee tiers for active traders live now, we are ready to deliver the definitive platform for sophisticated traders, institutional clients, and our everyday customers.

For years, global crypto derivatives represented roughly 80% of total crypto trading volume worldwide. US traders and institutions had the scale and the sophistication to participate in those markets, but a compliant, regulated path to do so was simply absent.

That changed in May 2026, when the CFTC issued guidance allowing Coinbase Financial Markets (CFM) to be the first and only US-regulated Futures Commission Merchant that can connect US clients to global crypto derivatives liquidity. The guidance, covering both options and perpetual futures, created the regulated structure through which US traders can now reach the world's deepest crypto derivatives markets. The conditions the CFTC established require a specific combination of regulatory standing and corporate structure that Coinbase uniquely satisfies. 

Options complete the derivatives suite on Coinbase alongside perpetual contracts, giving our customers a framework to manage volatility, generate yield, hedge existing exposure, or take directional positions with defined risk.

For US institutional clients, accessing global crypto options and perpetual futures previously required offshore entities, multiple counterparty relationships, and fragmented infrastructure across separate venues. Coinbase Prime resolves that entirely.

Through CFM, US institutions can access Deribit's full options suite and perpetual futures through the same Prime platform they already use for spot trading, futures, custody, financing, and staking. One account. One compliance framework. One view of risk across the full derivatives curve. Client assets are held in our institutional-grade custody offering, and the regulatory framework is already in place and in production. Options through Coinbase Prime will be available in the coming weeks, and onboarding is open today.

For individual traders, the era of using VPNs to execute complex strategies across multiple exchanges is over. The Coinbase experience is built around a unified account powered by our new high-performance matching engine, and all derivatives living together with cross-portfolio margin. Offsetting positions across an account lowers the collateral required to maintain open trades, keeping capital available for new positions rather than locked in margin. The whole portfolio is visible and manageable in one place.

To support strategy execution, Coinbase Advanced includes a strategy builder that translates your market outlook into multi-leg orders and executes them in a single step, eliminating the ratio risk that comes with placing legs separately. Before entering a position, the payoff diagram shows expected profit levels and exact breakeven points across the range of potential outcomes. On the portfolio screen, greeks, funding costs, order depth, and liquidity sit directly alongside the order interface.

Options roll out for eligible traders outside the U.S. in the coming weeks; U.S. retail access to options is coming later this year. 

You spoke, we listened. We’ve been making infrastructure investments that extend across every layer of the Everything Exchange.

At the end of this year, Coinbase Pro will return as the dedicated professional platform within the Everything Exchange. 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.

More details coming soon. Sign up for the waitlist here.

Disclaimer

Product availability and Coinbase entities vary by jurisdiction and customer eligibility. U.S. derivatives are offered by Coinbase Financial Markets ("CFM"), a NFA member firm. Global derivatives in supported jurisdictions are offered by Coinbase Bermuda Ltd (“CBBM”), which is regulated by the Bermuda Monetary Authority and holds a Class F digital asset business licence under the Digital Asset Business Act 2018. 

Spot margin is available to eligible customers in selected jurisdictions and is not available in the US except to Eligible Contract Participants. Margin loans are extended by Coinbase Custody International Limited or, for US customers, Coinbase Credit, Inc. Collateral is held by Coinbase Bermuda Ltd, Coinbase Luxembourg S.A. or, for US customers, Coinbase, Inc. as custodian. Spot orders are executed by your local Coinbase entity. Trading with borrowed funds increases both gains and losses; your collateral may be liquidated without notice and you may lose more than your initial deposit. Spot margin is offered by Coinbase affiliates and is not a CFM product. 

Trading involves substantial risk and may result in the loss of your entire investment. Information provided for informational purposes only. Not investment advice or recommendation to purchase a particular asset or security or to employ a particular investment strategy. 

Coinbase offers simple and advanced trading in eligible jurisdictions. Advanced trading is for experienced traders and is subject to the Trading Rules. Fees on the two platforms vary.