The company​ agreed to acquire Deribit, a push into the highly profitable crypto derivatives market and a move meant to bolster its global growth.

Coinbase acquires Deribit for $2.9B, marking a major move into crypto derivatives with plans to expand options and futures trading.

Coinbase is acquiring Deribit—a leading crypto options and futures exchange—for approximately $2.9 billion, according to a report by The Wall Street Journal.