Coinbase is in talks to acquire the cryptocurrency exchange Deribit.

Coinbase Global Inc. (NASDAQ:COIN), the largest cryptocurrency exchange in the U.S., is in advanced talks to acquire Deribit, the leading trading platform for Bitcoin and Ether options. This news was reported by Bloomberg on Friday.

The potential acquisition has been reported to regulatory authorities in Dubai, where Deribit holds a license. According to the report, this license will be transferred to the acquiring entity, in this case, Coinbase. Bloomberg previously indicated in January that Deribit’s valuation ranges from $4 billion to $5 billion. However, it is still unclear whether Coinbase will finalize a deal with Deribit. The report also noted that discussions may not necessarily lead to an agreement.