Coinbase Moves Institutional Crypto Trading to Deribit

Coinbase is shaking up its institutional trading setup by moving its international clients to Deribit. This change takes place on September 9. Deribit is currently the biggest platform in the market for crypto options, making this a significant shift for professional traders using the Coinbase International Exchange.

Trading will pause for about 30 minutes while the migration happens. During this window, all open orders will be canceled. The platform will settle existing positions at the current mark price and then reopen them on Deribit at that same reference price. This process aims to keep things consistent for traders as they transition to the new venue.

This move shows Coinbase is focusing its efforts on specialized platforms to handle complex institutional demand. Traders should keep an eye on their account status during the scheduled downtime to ensure their positions transition correctly.