Coinbase is in advanced talks to buy Deribit, a cryptocurrency derivatives exchange, according to a March 21 report by Bloomberg.
Acquiring Deribit — the world’s largest venue for trading Bitcoin (BTC) and Ether (ETH) options — would bolster Coinbase’s existing derivatives platform, which currently focuses on futures.
Coinbase and Deribit have reportedly alerted regulators in Dubai to the deal talks. Deribit holds a license in Dubai, which would need to be transferred to Coinbase if a deal goes through, according to Bloomberg, which cited unnamed sources.
In January, Bloomberg reported that a deal with Coinbase could value Deribit at between $4 billion and $5 billion.
Deribit lists options, futures and spot cryptocurrencies. Its total trading volumes last year were around $1.2 trillion, Bloomberg said.
On March 20, Kraken, a rival crypto exchange, announced plans to <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/kraken-reportedly-nears-billion-dollar-deal-allowing-futures-trading-us-report" rel="null"