Coinbase has launched the Coinbase Global Exchange, a platform enabling eligible US traders to access global derivatives markets. The service operates under the oversight of the Commodity Futures Trading Commission (CFTC) via the subsidiary Coinbase Financial Markets, which functions as a futures commission merchant.
The new exchange is the result of integrating Deribit, an options venue acquired by Coinbase in August 2025 for approximately $2.9 billion. This integration follows CFTC guidance issued in May 2026, which allows US-regulated entities to connect clients directly to international derivatives liquidity.
A key feature of the platform is the single collateral pool, which allows traders to use one deposit to back positions across multiple products. On October 1, 2026, perpetual futures previously traded on the Coinbase International Exchange were migrated to this new gateway.
The rollout will be staged, beginning with institutional clients, while retail access is expected later in 2026. Coinbase also plans to introduce features such as spot margin and unified portfolios, alongside the relaunch of its Pro platform for professional traders by the end of 2026.
As of September 30, 2026, Bitcoin options open interest on the platform exceeded $30 billion. Deribit recorded over $1 trillion in trading volume during the year preceding the integration, highlighting the scale of the liquidity now accessible to US-regulated participants.
