In a significant development for the cryptocurrency trading landscape, Coinbase has joined forces with Kemet to enhance institutional access to its trading platforms. This collaboration introduces Coinbase’s various trading venues—including Coinbase Exchange, Coinbase Derivatives Exchange, Coinbase International Exchange, and Deribit—into Kemet’s advanced trading ecosystem.
Kemet specializes in providing tools for order and execution management, as well as portfolio management specifically geared towards crypto derivatives traders. The integration of these services enables institutional clients to utilize sophisticated trading strategies, such as multi-leg options, smart order routing, automatic delta hedging, and spread trading algorithms. This arrangement offers institutional desks a streamlined interface to manage trades across spot, futures, and options markets seamlessly.
This partnership is a part of Coinbase’s broader strategy to strengthen its position in the institutional derivatives market, particularly following its recent acquisition of Deribit, which was finalized in August 2025. At the time of this acquisition, Deribit had reported an impressive trading volume of more than $185 billion for July 2025 and maintained approximately $60 billion in open interest. These numbers underscore the importance of Deribit in cementing Coinbase’s footprint in the crypto options sector.
First announced in May 2025, the Deribit acquisition was valued at $2.9 billion, comprising $700 million in cash and 11 million shares of Coinbase stock. This strategic move was described by Coinbase as a significant step towards creating a unified platform for spot, futures, perpetual futures, and options trading offerings.
The integration of Kemet into Coinbase’s infrastructure further advances this strategy. The focus is not only on expanding the array of products available for institutional trading but also on enhancing the accessibility of liquidity, execution efficiency for complex trading strategies, and risk management capabilities across diverse trading venues. This evolution signifies Coinbase’s commitment to catering to the sophisticated needs of institutional investors in the rapidly evolving cryptocurrency market.
