Coinbase announced on Thursday that it had concluded a deal to get Deribit, one of the largest exchanges of encryption options, in a $ 2.9 billion deal where it seeks to become the world’s leading platform for Crypto derivatives.
The acquisition will witness Coinbase $ 700 million in cash and 11 million shares of its category A. The deal is expected to be closed by the end of 2025.
Deribit has approximately $ 30 billion of open interest and is treated with more than $ 1 trillion in trading volume last year in its main markets, to a large extent of institutional and professional customers outside the United States.
Coinbase said the options platform will complete its current and permanent works, which expands the World Stock Exchange.
“This acquisition will accelerate the basis that we laid with the provision of merchants with more opportunities across space, future and permanent contracts and options – all under one reliable brand,” said Luk Strgers, CEO of Deribit.
Coinbase said this step will enhance profitability immediately and diversify trading revenues, as options products are less periodic than immediate trading.
Exchange expects to see encryption options as a boom in stock options in the 1990s.