Back
Coinbase to move institutional accounts to Deribit on Sept. 9

Coinbase to move institutional accounts to Deribit on Sept. 9

Institutions that stay in the program after Aug. 28 must replace APIs and close margin loans before a brief Sept. 9 cutover consolidates Coinbase's derivatives activity on Deribit.

Fact Check
Coinbase's official help center FAQ confirms the Sept. 9, 2026 migration from Coinbase International Exchange to Deribit, the ~30-minute cutover that cancels open orders and settles/recreates positions at a reference price, and the Aug. 28, 2026 opt-out deadline. Coinbase's developer docs independently confirm the same Sept. 9, 2026 date for retiring the INTX derivatives API. The CryptoSlate report matches these details. All core facts in the claim are corroborated by official primary sources; the only caveat is that dates are marked 'subject to change.'
    Reference: 123
Summary

Coinbase plans to shift institutional Coinbase International Exchange accounts, balances and open positions to Deribit on Sept. 9, with about 30 minutes of expected downtime, as it consolidates global derivatives activity on the exchange it acquired in August 2025 for about $2.9 billion and described at closing as the largest crypto options venue by volume and open interest. Institutions that do not want to migrate must close positions and accounts by Aug. 28; accounts left open will be treated as having accepted the updated terms. Deribit subaccounts are due to be provisioned in read-only form on Aug. 31 so clients can confirm mappings, create new API credentials and request limits. During the cutover, Coinbase will cancel open orders, settle positions at the International Exchange mark price, crystallize profit and loss, transfer balances and recreate positions on Deribit through matched block trades tagged "Migration." Existing API keys and margin loans will not transfer, legacy records should remain available for about 12 months, and price differences between the two venues before reopening could leave clients with immediate unrealized gains or losses. Coinbase says the transfer itself will not incur trading or settlement fees.

Terms & Concepts
  • open interest: The total number of derivative contracts that remain outstanding and have not been closed or settled.
  • mark price: A reference price an exchange uses to value positions and calculate settlement or margin.
  • block trades: Large or matched transactions recorded as single trades, often used for negotiated or administrative transfers.