Editor's PiCK
Coinbase Accelerates Foray into Derivatives Market with Acquisition of Deribit, a Virtual Asset Options Exchange
Summary
- Coinbase announced that it has officially completed the acquisition of Deribit.
- With this acquisition, Coinbase stated it will advance into an all-encompassing trading platform providing spot, futures, perpetual contracts, and options.
- Coinbase explained that its goals with this acquisition are expanding its product lineup, enhancing global liquidity, and broadening its participant base.
Coinbase announced that it has officially completed the acquisition of the virtual asset (cryptocurrency) options exchange Deribit (Deribit).
On the 14th, Coinbase stated on its blog, "Deribit has officially become part of Coinbase," adding, "With this acquisition, Coinbase is set to evolve into an all-encompassing trading platform offering spot, futures, perpetual contracts, and options."
Deribit boasts an open interest of approximately $60 billion and records more than $1 trillion in annual trading volume. It is also well known for providing a rapid and capital-efficient trading environment for institutional investors and professional traders worldwide. In July alone, trading volume surpassed $185 billion, marking an all-time high.
Meanwhile, Coinbase elaborated that, through this acquisition, it aims to expand its product lineup, enhance global liquidity, and broaden its participant base. It is reported that Deribit generated around $30 million in trading revenue just in July.
Minseung Kang
minriver@bloomingbit.ioBlockchain journalist | Writer of Trade Now & Altcoin Now, must-read content for investors.![[Exclusive] FSS to examine ZKsync coin that surged '1,000%' in three hours](https://media.bloomingbit.io/PROD/news/1da9856b-df8a-4ffc-83b8-587621c4af9f.webp?w=250)
