Coinbase, one of the world's largest cryptocurrency exchanges, is relaunching Coinbase Pro, its professional trading interface, before the end of 2026, bringing back the name of the standalone exchange the company retired in 2022 as trading moved into the main Coinbase app and Coinbase Advanced. The relaunch caps a period in which Coinbase has built out its advanced trading business around Deribit, the crypto options platform it agreed to acquire in May 2025 in a deal valued at approximately $2.9 billion, and forms part of what the company calls its "Everything Exchange". The return of the retired name underscores how much weight Coinbase now places on professional and institutional trading.

The rebuilt platform is designed to accommodate active traders and institutions, providing access to spot, futures, perpetual contracts, options, and equities markets from a single venue. Perpetual contracts — futures with no expiry date that originated in the crypto market — sit alongside these more traditional instruments, giving active traders hedging and positioning tools that extend beyond straightforward spot buying and selling. Customers will have a single account spanning derivatives, spot margin, unified portfolios, and professional execution tools. According to Coinbase, the new version will feature a higher level of integration of order routing systems, better order execution methods, and new tools for advanced volume strategies.

Spot Margin With Up to 10x Leverage

Spot margin trading is also on the way for eligible customers. Traders will be able to use leverage of up to 10x on select major assets and up to 5x on other supported assets, with collateral deposits accepted in more than 15 different eligible assets. Borrowed leverage amplifies both gains and losses on a position. The margin system will be integrated with the derivatives business, giving users the leverage they want within one portfolio rather than across separate accounts.

Deribit Becomes Core to Coinbase's Global Derivatives Push

The key shift is the completed integration of Deribit, one of the world's largest and most popular platforms for crypto options and long the dominant venue for Bitcoin and Ether options. The platform is widely used by professional traders and market makers. According to Coinbase, Deribit adds access to more than $30 billion in Bitcoin options open interest as of September 30, 2026, and recorded over $1 trillion in trading volume last year. Open interest — the total value of contracts still outstanding — is a standard gauge of liquidity in an options market, and options give traders something spot markets cannot: the right, but not the obligation, to buy or sell an asset at a set price by a set date.

Coinbase will link all U.S.-based and international crypto derivatives into a single regulated liquidity pool. The company said the structure could enable institutions to trade in larger markets without needing separate offshore exchanges, multiple counterparties, or disparate bundles of collateral.

Along with spot trading, Coinbase Prime, the exchange's institutional platform, will support eligible institutional traders in accessing options and perpetual futures market trading powered by Deribit, along with other services such as custody, financing, and staking.

Options and Unified Portfolios Roll Out Next

Over the next few weeks, Coinbase is set to launch crypto options, spot margin, and combined portfolios. Qualifying traders outside the United States should expect first access to options, followed by access for U.S. retail traders later this year — a staggered sequence that makes the pace of the U.S. retail rollout one of the clearest to watch as the rebuilt platform comes together.

The unified portfolio model is designed to let traders offset risk among their positions, eliminating risk locked up in margin collateral. Multi-leg strategy execution, payoff diagrams, Greeks, funding costs, order depth, and liquidity data will also be embedded in the trading interface in Coinbase Advanced. Greeks — the sensitivity measures that describe how option prices respond to moves in the underlying asset, time, and volatility — are standard tooling on dedicated options venues, and embedding them directly in Coinbase's interface reflects the depth of the Deribit integration.

The end result looks less like the return of the earlier Coinbase Pro product and more like a complete reboot — a rebuild of the platform's entire global derivatives infrastructure.

Source: Crypto Ninjas