The greatest crypto exchange by acting a trade volume in the US has just taken an agreement to acquire the Dubai-based derivatives platform Deribit.
In a statement, Coinbase out The deal costs around $ 2.9 billion, including $ 700 million in cash and 11 million shares of its class A ordinary shares subject to purchase price adjustments.
“This strategic acquisition greatly promotes Coinbase’s derivative activities and sets us up as the most important global platform for crypto-derivatives … It is fundamental for our vision of creating the most extensive, conforming and user-friendly derivatives platform worldwide.”
Deribit is the world’s leading crypto options -exchange, with around $ 30 billion in current open interest. Last year the platform also facilitated more than $ 1 trillion in trade volume in important markets, with the exception of the US.
Coinbase says that the acquisition of Deribit will make the leader of the world in crypto derivatives through open interest and option volume, as well as enabling its international growth strategy to accelerate.
“Outside the US, our international exchange offers spot and perpetual futures products. With Deribit we will further expand our international footprint and offer institutional and advanced traders access to robust option markets.”
Reports that the two companies are in the advanced phases of acquisition interviews, emerged in March. Coinbase says that the transaction is still subject to approvals of the regulations and the usual closing conditions, but is expected to be completed at the end of the year.
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