Coinbase completes Deribit switch, ending International Exchange trading
Coinbase completed the Oct. 1 migration of its International Exchange trading activity to Deribit, making the former venue read-only and ending its trading. Institutional clients must switch to Deribit API endpoints and keys; IP allowlists, instrument names and order settings do not transfer, and open orders were canceled. Perpetual positions now settle daily at 08:00 UTC rather than every five minutes. Coinbase Bermuda remains the broker, custodian and primary counterparty for affected institutions, while Deribit executes trades. Historical records remain split between platforms, with legacy APIs expected to stay available for about 12 months. Coinbase app users retain their accounts, though derivatives access and product availability vary by account and jurisdiction.
