Coinbase said it wants to make regulated crypto derivatives trading accessible to retail and institutional clients.
“Developing a transparent derivatives market is a critical turning point for any asset class and we believe it will unlock greater participation in the crypto economy for both retail and institutional investors,” he said in a blog post Wednesday.
The cryptocurrency derivatives business has grown rapidly since institutional investors in the past 18 months began adopting digital currencies, presenting great opportunities for platforms offering options and futures.
Crypto derivatives volumes totaled $3.3 trillion in November, according to UK research firm CryptoCompare, accounting for nearly 55% of the total crypto market.
The deal is expected to close in the first quarter, the company said.