Coinbase, a digital asset exchange platform, recently announced it has entered into an agreement to acquire Deribit, a crypto options exchange, for approximately $2.9 billion. This includes $700 million in cash and 11 million shares of Coinbase Class A common stock.
Coinbase allows users to buy, sell and trade cryptocurrencies. It also offers a variety of financial services, including custody solutions and staking, to both retail and institutional clients. The acquisition will create a comprehensive platform for institutional and advanced traders to access a wide range of trading products, including spot, futures, perpetuals and options.
The acquisition aims to enhance Coinbase’s derivatives business and help position it as a global platform for crypto derivatives, thanks to Deribit’s expansive presence and client base. According to Coinbase, the acquisition will also diversify the company’s revenue streams and accelerate its international growth strategy.
