Coinbase announced the creation of Coinbase Global Exchange built on its acquisition of Deribit and plans to relaunch Coinbase Pro by year-end 2026. The new exchange consolidates spot, futures, perpetuals, options and equities into a single platform using Deribit’s derivatives infrastructure, after migrating clients from the Coinbase International Exchange and switching the legacy platform to read-only. Deribit brings scale: as of September 30, 2026 it held notable Bitcoin options open interest and large annual volumes, which underpins Coinbase’s single-regulated liquidity pool pitch.
The relaunched Coinbase Pro targets high-volume traders with faster order routing, spot margin trading offering up to 10x leverage on major assets and up to 5x on others, and a merged liquidity pool for US and international markets. Access will roll out by region and client type: US institutional clients via Coinbase Financial Markets, eligible non-US traders getting options access, and US retail access arriving later. Coinbase has also integrated new derivatives products and tools including USDC-settled contracts and a new matching engine as part of the integration.