Coinbase has launched a regulated way for U.S. institutional investors to access global crypto derivatives markets through its futures commission merchant, Coinbase Financial Markets.
The company announced on May 29 that eligible U.S. institutions can now trade crypto derivatives, beginning with options listed on Deribit. Coinbase said this makes Coinbase Financial Markets the first U.S.-regulated futures commission merchant to provide access to global crypto derivatives markets, including options and perpetual futures.
Institutional clients can begin onboarding immediately, while access for retail customers is expected at a later stage.
The first phase of the rollout focuses on Deribit options. Coinbase said additional products, including crypto perpetual futures, more collateral choices, and other derivatives offerings, will be introduced over time.
The company believes the move gives U.S. institutions access to markets that have historically been dominated by offshore trading platforms.
According to Coinbase, crypto derivatives account for roughly 80% of global crypto trading activity. The company also cited Deribit data showing more than $31 billion in Bitcoin options open interest as of May 28.
Coinbase said institutional traders can use these products for hedging, volatility trading, and basis trading strategies linked to Bitcoin and other digital assets.
The launch follows recent action by staff at the Commodity Futures Trading Commission (CFTC). According to Coinbase, CFTC staff indicated that certain crypto perpetual contracts offered through foreign venues may qualify as foreign futures under existing regulations when specific conditions are met.
The regulator also issued a no-action position covering certain transfers of customer-owned digital assets and payment stablecoins used as margin through affiliated foreign brokers, provided required conditions are followed.
Coinbase’s new offering builds on its acquisition of Deribit, which the company completed in August 2025 for $2.9 billion.
At the time, Deribit was one of the largest crypto derivatives platforms in the world. Coinbase reported that Deribit processed more than $185 billion in trading volume during July 2025 and held approximately $60 billion in open interest.
The derivatives expansion is also part of Coinbase’s broader push into institutional services.
Recently, Coinbase expanded its partnership with Standard Chartered to improve funding options for institutional clients. The arrangement added support for currencies including the Australian dollar, Singapore dollar, Canadian dollar, and Swiss franc, while also strengthening settlement services for the euro and British pound.
Coinbase said these services are available through Coinbase Prime and Coinbase Exchange, allowing institutions to move capital more efficiently between spot markets, derivatives markets, and financing strategies without relying on a single base currency.
The company sees the latest launch as an important step in bringing more institutional participation into regulated crypto derivatives markets while offering U.S. investors a compliant alternative to offshore platforms.
