Coinbase institutional accounts will be migrated to Deribit on September 9, requiring users to rebuild their positions and replace API keys.

Coinbase announced that its Institutional International Exchange accounts, balances, and positions will officially migrate to the Deribit platform on September 9, with the entire switchover process expected to complete in under 30 minutes. The migration will force the settlement and re-establishment of existing positions, require early closure of existing margin loans, retain historical data, and mandate users to regenerate API keys. If institutional clients do not wish to participate in the migration, they must close their positions and International Exchange accounts by August 28 to exit; accounts that fail to exit by the deadline will automatically undergo migration. This move marks Coinbase integrating part of its institutional derivatives trading infrastructure into Deribit, a long-time leader in the cryptocurrency options market. Coinbase has previously collaborated with Deribit on clearing and liquidity.