Coinbase said it has begun deploying a next-generation matching engine on Deribit for derivatives trading, with perpetual contracts due to migrate later this year, while Deribit has secured a broker-dealer licence from Dubai's Virtual Assets Regulatory Authority that lets spot buy, sell and trade orders placed through Deribit route to Coinbase Exchange for execution. The setup keeps clients on Deribit's existing interface, adds hundreds of assets and deeper spot trading liquidity through Coinbase's centralized order book, and leaves a limited number of assets on Deribit's own spot book as a fallback; assets bought through the service may also become collateral for derivatives positions, subject to regulatory approval. Coinbase has tied the change to its post-acquisition integration of Deribit, with broader institutional and API connectivity through Starbase still targeted for September 2026, while also expanding regulated services in Abu Dhabi and rolling out 24/5 trading in nearly 4,000 U.S. stocks in the UK.